Industry and Technology Minister Varank stated that the trade volume between Turkiye and Thailand exceeded the level of $2.2 billion for the first time, “We will take our relations to a much further point in the coming period.”
The 4th Joint Economic Commission (JEC) meeting between Turkiye and Thailand was held under the title of “Fourth Term Meeting of the Joint Committee on Economic and Technical Cooperation”.
The memorandum of understanding between the two countries was signed by Minister of Industry and Technology Mustafa Varank and Thai Deputy Prime Minister and Minister of Foreign Affairs Don Pramudwinai.
In his speech after the signing of the protocol, Minister Varank said that Thailand is one of the important actors in Asia with its strategic location, important natural resources and wide domestic market.
Emphasizing that Thailand is one of the 18 countries that Turkiye aims to increase relations with in the “Distance Countries Strategy”, Varank stated that they consider this country as a strategic partner.
Varank stated that the trade volume between the two countries increased by 18% in 2022 compared to the previous year, exceeding the level of $2.2 billion for the first time.
“We find this increase in our trade volume meaningful, but we see it as insufficient. Because the potential of our countries shows us that our current trade can be at much higher levels. On this occasion, we are determined to strengthen the mutual investment ecosystem by supporting all activities in the economic, political, cultural, social and academic fields. We will continue to support and facilitate the investments of Thai companies in Turkiye, Turkish companies in Thailand, and of course bilateral trade. In this direction, we have come a long way in the long-running free trade agreement negotiations.”
Varank stated that the KEK mechanism is a versatile structure that aims to improve the country’s cooperation in commercial, economic and social fields.
Noting that such mechanisms have become more important than ever, especially at a time when wars, attacks and economic crises shaped the world, Varank pointed out the importance of holding this meeting on the 65th anniversary of diplomatic relations, after a long break of 20 years.
Stating that they evaluated the current situation between the two countries with Pramudwinai and discussed new business opportunities, Varank used the following statements:
“With the protocol we signed today, we have taken the necessary steps to deepen our relations between Turkiye and Thailand in areas such as mutual investments, science and technology, electric vehicles, battery technologies, game development, regional development, SMEs, as well as renewable energy, halal accreditation, education, agriculture, health, tourism, transportation, and logistics. In the coming period, we will take our relations to a much higher level in all fields, especially in our economic relations. Currently, there are Turkish companies investing in Thailand, we have companies that make industrial production there and use Thailand as a regional hub. They have serious investments. We also want to see Thai companies in our country. We invite them to our country on this occasion.”
On the other hand, a cooperation protocol was signed between the Turkish Cooperation and Coordination Agency (TIKA) and the Thailand International Cooperation Agency (TICA) within the scope of the meeting.
Source: AA / Translated by Irem Yildiz