60 years of relationships
Singapore and Thailand have a good time 60 years of diplomatic relationships this yr, mentioned Mti. Both ministers co-president the Ministerial Stering assembly on Friday in Singapore.
They reaffirmed lengthy -standing bilateral financial cooperation and welcomed partnerships between Singapore and Thai firms.
Mti mentioned that the assembly additionally noticed good progress within the discussions on Agri-Trade, investments, digital financial system, mental properties, carbon credit and collaboration of the cruise tourism.
“Singapore firms have additionally discovered good companions in Thailand to broaden in new areas resembling electrical automobiles, Fintech and Medtech,” added the ministry.
Dr. Tan, who can be minister of the workforce, mentioned: “Singapore and Thailand are shut bilateral financial companions … this yr we’ve strengthened industrial hyperlinks amongst our international locations, exploiting our complementary strengths for the advantageous outcomes for each economies.
“While we mark 60 years of diplomatic relationships, I can not wait to deepen our partnership for an additional 60 years and past, to seize new alternatives for our actions and folks”.
Thailand was the ninth industrial accomplice of Singapore in 2024 and the most important third in Singapore in Southeast Asia, with bilateral commerce amongst them reaching $ 44.5 billion.
In 2024, Singapore’s exports to Thailand recorded a 14.2 p.c enhance to $ 29.3 billion, whereas Singapore’s imports from Thailand amounted to $ 15.2 billion.
Singapore was additionally the most important supply of international direct investments in Thailand in 2024, with 357.5 billion Baht ($ 14.25 billion), equal to 43 % of Thailand’s complete purposes of IDE.
