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Thu, 03/23/2023 - 11:34
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Govt Expects B31bn in Trade, Investment Value with UAE

BANGKOK, March 23 (TNA) – Thailand expects to generate total mutual trade value of 31.33 billion baht with the United Arab Emirates (UAE) following the visit of Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit to the UAE.

The cabinet acknowledged outcome of the visit of the deputy prime minister and the Thai delegation to the United Arab Emirates (UAE), said Deputy Government Spokesperson Ratchada Thanadirek.

The Deputy Prime Minister met with UAE Minister of State for Foreign Trade to discuss various issues. The two countries came to terms to finalize Comprehensive Economic PartnershipAgreement (CEPA) within 6 months and agreed to promote mutual trade and investment through the establishment of Thai-UAE Business Council. UAE is interested in investing in Thailand in the fields of infrastructure industry, digital, and food security.

UAE was called on to endorse Thailand’s bid to host the Specialised Expo “Expo 2028 Phuket Thailand”, on which the decision will be made by Bureau International des Expositions in June 2023.

The Deputy Prime Minister also witnessed the signing of agreements and MOU between the Thai and UAE private sectors, including purchase agreements between five Thai companies and respective UAE counterparts in four products, namely, food, sanitary ware and ceramic tiles, automotive parts, and melamine products, worth total 1.33 billion baht.

He also witnessed the signing on an establishment of Thai-UAE Business Council, through which the revenue of 30 billion baht is expected to be generated and the signing of the MOU on logistics cooperation between DP World, UAE’s logistics company, and the Thai counterpart under the program “World Logistics Passport”.  (TNA)