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https://www.nationthailand.com/thailand/economy/40020968

Thailand, Singapore strengthening economic ties

WEDNESDAY, OCTOBER 12, 2022

Thailand and Singapore will work together to enhance their economic relationship in line with the Bio-Circular-Green (BCG) economy, Commerce Minister Jurin Laksanawisit said on Wednesday.

He was presiding over the sixth ministerial meeting of the Singapore-Thailand Enhanced Economic Relationship (STEER) in Bangkok, along with Tan See Leng, Singapore’s Manpower Minister and Second Minister for Trade and Industry.

Jurin said the Commerce Ministry will hold online business matching discussions between Thai exporters and Singaporean importers, focusing on businesses related to BCG, such as plant-based proteins, alternative meat and processed foods from natural ingredients.

A signing ceremony for five memorandums of understanding was held during the meeting, covering intellectual property, agriculture and sustainable businesses.

“This is the first economic cooperation between Thailand and Singapore in five years after their last meeting in 2017,” he said.

The STEER meeting has enabled the two countries to cooperate in various fields such as agriculture, telecommunications, trade, investment, tourism and intellectual property, Jurin said.

Singapore is Thailand’s fourth partner in Asean, following Malaysia, Vietnam and Indonesia, and Thailand’s eighth partner in the world, the minister said.

“Thailand and Singapore have overcome many global challenges, such as the trade war, the Covid-19 crisis, the ongoing Russia-Ukraine conflict and inflation,” he said.

“This was a good opportunity for the two countries to hold the STEER meeting today to promote cooperation in trade and investment,” Jurin added.