MANILA, Philippines – The Philippines and Thailand have agreed to pursue trade and investment cooperation, with particular emphasis on sectors such as agriculture, electronics, artificial intelligence, and precious metals, the Presidential Communications Office (PCO) said.
The agreement was reached at a bilateral meeting at the Kuala Lumpur Convention Centre in Malaysia on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit.
According to Malacañang, President Ferdinand R. Marcos Jr. and Thai Prime Minister Paetongtarn Shinawatra “shared the commitment to harness innovation and economic complementarity to drive inclusive and sustainable growth in the region.”
The President cited the “great potential” for a partnership between the Philippines and Thailand in the electronics, artificial intelligence (AI), copper, vehicle wiring, and precious metals industries.
“I really see that there is great potential in all of these areas,” President Marcos said as the Philippines targets to increase its exports to Thailand for a more balanced trade.
At the same time, Marcos welcomed a leading Thai agricultural company’s commitment to invest in the Philippines, highlighting the private sector’s vital role in the country’s economic development through public-private partnerships (PPP).
In 2024, Thailand was the Philippines’ sixth largest trading partner, according to the PCO.
For her part, Thai Prime Minister Paetongtarn agreed to broaden agricultural cooperation with the Philippines, with Thailand investing heavily in research and development.
“We encourage other countries to invest in Thailand more and invest in the Philippines as well,” she said.
Meanwhile, the two countries will mark the 76th year of diplomatic relations this year, which was established on June 14, 1949.
In line with renewing and deepening the Philippines’ longstanding ties with Thailand, President Marcos personally invited the Thai prime minister to visit the Philippines.
