The Philippines and Thailand have agreed to enhance trade and investment cooperation, with particular emphasis on strategic sectors such as agriculture, electronics, artificial intelligence, and precious metals.

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 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.

The President underscored the importance of renewing and deepening the Philippines’ longstanding ties with Thailand. This year, the two countries will mark the 76th year of diplomatic relations, which were established on June 14, 1949.

Both leaders reaffirmed their mutual commitment to strengthening bilateral relations further and exploring new areas of collaboration that align with their respective national development goals.

President Marcos emphasized the need for Manila and Bangkok to strengthen their bilateral ties further, noting that enhanced cooperation is essential as the global economy confronts issues which are “very difficult to predict and to forecast.”

At the same time, the President 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).

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.

In 2024, Thailand was the Philippines’ sixth largest trading partner.

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,” the Thai Prime Minister said.

President Marcos personally invited the Thai prime minister to visit the Philippines. Presidential News Desk