Pooled expertise appeals to minister
Commerce Minister Suphajee SuthumÂ-pun (centre)
Commerce Minister Suphajee SuthumÂ-pun on Sunday voiced support for an Asean–India Free Trade Area (FTA).
After meeting Malaysia’s Trade and Industry Minister Tengku Zafrul Aziz during the Asean Economic Community Council Meeting in Kuala Lumpur, Ms Suphajee said the government is ready to back the plan in talks on the matter between the nations.
The minister proposed pooling both countries’ strengths in food and agricultural production would enhance food security in the region, especially in light of growing threats from climate change, conflict and pandemics.
The minister also expressed Thailand’s readiness to export key agricultural products and act as a raw material supplier to Malaysia, particularly in rubber, shallots and livestock products, she said.
Both countries agreed to continue bilateral trade and economic discussions throughout the Thailand–Malaysia Joint Trade Committee (JTC) meeting, offering to host the next in the series. The talks will focus on deepening collaboration in border trade, transport connectivity and Halal food with the aim of increasing bilateral trade value to US$30 billion within 2027.
Currently, Malaysia is Thailand’s fourth-largest trading partner globally, its leading Asean and border trade partner. In 2024, total trade between the two countries reached US$26.05 billion, consisting of exports worth US$12.33 billion and imports worth US$13.72 billion, leaving Thailand with a trade deficit of US$1.38 billion. As such, border trade accounted for 35.6% of total Thai–Malaysian trade.
Thailand’s major exports included automobiles and parts, refined oil, integrated circuits, computers and components and rubber, while major imports from Malaysia included crude oil, integrated circuits, chemicals, computers and components, electrical machinery and natural gas.
Both sides also touched on the Asean–India FTA talks to expand market access and reduce trade barriers. Ms Suphajee urged Malaysia, as the chair of the negotiations, to conclude the talks this year by minimising regulatory and trade restrictions to make the agreement more feasible for exporters.
Meanwhile, Prime Minister Anutin Charnvirakul outlined priorities for Asean cooperation at the 47th Asean Summit Plenary Session held at the Kuala Lumpur Convention Centre (KLCC) on Sunday.
Government spokesman Siripong Angkasakulkiat said Thailand will build a secure Asean community by working with member countries to tackle security threats.
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