Deputy Prime Minister and Commerce Minister Phumtham Wechayachai expressed Thailand’s eagerness for business operators from Hong Kong to make Thailand their trade and investment hub in the Southeast Asian region. This move is intended to bolster Thailand’s soft power in various sectors such as food, services, rice, and fruits, as stated today.
Leading a delegation to Hong Kong, Phumtham, accompanied by representatives from 27 Thai companies, is attending the Hong Kong International Film and TV Market (FILMART), the largest film industry business gathering in Asia.
During the trip, Phumtham engaged in discussions with Algernon Yau, Hong Kong’s Minister of Commerce and Economic Development, focusing on enhancing bilateral trade relations, supporting Thai small- and medium-sized enterprises, facilitating greater market access in Hong Kong for Thai products, and encouraging increased investments in Thailand by Hong Kong investors.
Phumtham emphasized the desire for Hong Kong to boost imports of Thai goods like food, fruits, and rice, encourage the utilization of Thai medical and wellness services by Hong Kong residents, promote Thai start-ups, and attract investments in the real estate sector.
Hong Kong currently stands as Thailand’s seventh largest export market and thirteenth largest trading partner. Last year’s trade figures reflected exports worth approximately US$11 billion and imports valued at about US$2.6 billion, resulting in a trade surplus of US$8.4 billion for Thailand.
Notable export items to Hong Kong comprise jewellery, ornaments, circuit boards, watches, accessories, fruits, and pharmaceutical products.
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