Thailand and Australia have agreed to pursue a strategic economic partnership, to boost bilateral trade and investment and expect to sign the deal next year.
Thailand’s Commerce Minister Jurin Laksanavisit said, after a teleconference with Dan Tehan, Australia’s minister for trade, tourism and investment, that Australia is keen to forge a strategic economic partnership with Thailand, in addition to the existing Thailand-Australia Free Trade Agreement (TAFTA).
According to Mr. Jurin, the strategic economic partnership is another form of trade and investment relationship which is deeper than an FTA. Thailand initially proposed seven areas for the new partnership. They comprise processed agriculture, focusing on food, tourism, healthcare, education, e-commerce, the creative economy and others, such as energy and joint ventures.
He said Australia pledges to speed up the conclusion of Thailand’s proposals and, once agreed, the country will invite him to sign the deal there, possibly next year.