Thailand, Singapore forge closer trade ties

Reading Time: 1 minute

fr cd/ nolThailand and Singapore will trade off their strengths to boost commerce and investment ahead of thedawning of the ASEAN Economic Community (AEC) in 2015, The Nation reported on October 15.

The third round of the Singapore-Thailand Enhanced Economic Relationship (Steer) was held in Singapore on October 14 after a suspension of almost eight years.

After meeting with Singaporean Minister of Trade and Industry Lim Hng Kiang, Commerce Minister Niwatthumrong Boonsongpaisan said the two partners could cooperate in many sectors to promote economic growth between them and ASEAN. Thailand is the region’s leader in agricultural production and industrial manufacturing, while Singapore is ASEAN’s leader in trading and shipping products around the globe.

Key industries for investment are agricultural and food products, cruises, infrastructure development, trade and customs facilitation, as well as information technology. The plan will be proposed to the Singapore-Thailand Leaders’ Retreat in Singapore from November 26-27.

Steer is part of a strategy by the two governments to progress towards theAEC before 2015 and to maintain competitiveness in markets around the world.

The Commerce Ministry’s data show Singapore as Thailand’s third-largest trading partner in ASEAN after Malaysia and Indonesia. Last year, two-way trade declined by 2.82 per cent to $18.66 billion, consisting of $10.83 billion in exports from Thailand to Singapore – mainly oil, jewellery and ornaments, electronic circuits, computers and parts, as well as chemical products – and $7.83 billion in imports from the island state.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Thailand and Singapore will trade off their strengths to boost commerce and investment ahead of thedawning of the ASEAN Economic Community (AEC) in 2015, The Nation reported on October 15.

Reading Time: 1 minute

fr cd/ nolThailand and Singapore will trade off their strengths to boost commerce and investment ahead of thedawning of the ASEAN Economic Community (AEC) in 2015, The Nation reported on October 15.

The third round of the Singapore-Thailand Enhanced Economic Relationship (Steer) was held in Singapore on October 14 after a suspension of almost eight years.

After meeting with Singaporean Minister of Trade and Industry Lim Hng Kiang, Commerce Minister Niwatthumrong Boonsongpaisan said the two partners could cooperate in many sectors to promote economic growth between them and ASEAN. Thailand is the region’s leader in agricultural production and industrial manufacturing, while Singapore is ASEAN’s leader in trading and shipping products around the globe.

Key industries for investment are agricultural and food products, cruises, infrastructure development, trade and customs facilitation, as well as information technology. The plan will be proposed to the Singapore-Thailand Leaders’ Retreat in Singapore from November 26-27.

Steer is part of a strategy by the two governments to progress towards theAEC before 2015 and to maintain competitiveness in markets around the world.

The Commerce Ministry’s data show Singapore as Thailand’s third-largest trading partner in ASEAN after Malaysia and Indonesia. Last year, two-way trade declined by 2.82 per cent to $18.66 billion, consisting of $10.83 billion in exports from Thailand to Singapore – mainly oil, jewellery and ornaments, electronic circuits, computers and parts, as well as chemical products – and $7.83 billion in imports from the island state.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid