Japan and South Korea are strengthening their economic and trade ties, focusing on clean energy, quantum computing, and hydrogen energy. They aim to establish a carbon-neutral fuel supply chain and set international standards for hydrogen energy. The APEC Leaders' Informal Meeting emphasized the need for a free and open order in the Indo-Pacific region. Meanwhile, Japan and the United States are working together to strengthen supply chains of critical technologies, with a focus on countering China and Russia. In addition, the Asia Pacific Foundation of Canada is leading a women-only business mission to South Korea and Thailand from November 26 to December 1, 2023. The mission aims to enhance economic relationships, foster gender-inclusive trade, support SMEs, and catalyze international partnerships between Canadian companies and the two Asian economies. The mission will focus on the cleantech, health tech, and ICT sectors, highlighting the innovations of Canadian women entrepreneurs. It will include public conferences, B2B matchmaking, company pitches, and networking opportunities. South Korea and Thailand offer ideal market opportunities for Canadian businesses in these sectors.
UK Foreign Secretary David Cameron will travel to Thailand for his first visit to the Indo-Pacific region in a bid to strengthen trade and security ties with Bangkok. He will sign a UK-Thai 'strategic partnership road-map' aimed at enhancing cooperation on defense, health, and climate between the two countries. Thailand is a key UK partner in the Indo-Pacific region, and the visit is part of the UK's foreign policy priority to counter an assertive China. Lord Cameron will also visit Australia for the annual Australia-UK minister consultations (Aukmin).
U.S. Secretary of Commerce Gina Raimondo and Thai Prime Minister Srettha Thavisin met in Thailand this month to discuss ways to strengthen Thailand-United States commercial relations, highlighting semiconductors, clean energy, and sustainability. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink visited Bangkok for security-focused talks and expressed optimism about the U.S.-Thai alliance. The bilateral relationship has atrophied in recent years due to the 2014 military coup in Thailand, but there is an opportunity for a reset with the new Thai government led by Srettha. Thailand is the second-largest economy in Southeast Asia and plays a central role in trade and investment relations in the region. The U.S. and Thailand have a long history of cooperation in law enforcement, military exercises, and addressing non-traditional threats such as narcotics and human trafficking. The recent momentum in the relationship should be sustained, and the Biden administration should invite Prime Minister Srettha for a White House meeting to further strengthen the alliance.
Lord David Cameron, the UK Foreign Secretary, is visiting Central Asia to boost British ties with the region and address concerns about trade sanctions on Russia being side-stepped in neighboring countries. He will travel to Tajikistan, Kyrgyzstan, Uzbekistan, Turkmenistan, Kazakhstan, and Mongolia to promote business and cultural links with the UK. Cameron will announce measures to support the region's sovereignty and advance discussions on sanctions circumvention, human rights, and reform. He will also double funding for Chevening Scholarships, announce £50 million in development spending, and launch a scheme to promote the English language in Central Asia.
The United States has acknowledged Thailand’s growing importance in its economic security. The President’s Export Council (PEC) and U.S. Secretary of Commerce Gina Raimondo visited Thailand to bolster trade and investment ties. The PEC released a report titled 'REPORT OF THE PRESIDENT’S EXPORT COUNCIL: Reflections on Commercial Engagement in the Indo-Pacific and Recommendations for Strengthening the U.S. Commercial Relationship,' which highlights the economic prospects and partnership between the U.S. and Thailand. Thailand is the U.S.'s 18th largest trade partner, with a trade volume of approximately 72.1 billion US dollars in 2023. Thai investments in the U.S. stand at 2.5 billion dollars. The report also recognizes Prime Minister Srettha’s efforts in making Thailand more attractive to foreign investors. The focus is on increasing foreign investment, enhancing economic efficiency, and improving the well-being of the Thai population. [59a1b4da]