Thailand and New Zealand to Triple Trade by 2045

May 2024

During the visit of New Zealand Prime Minister Christopher Luxon to Bangkok, Thailand, both countries expressed their commitment to enhancing economic collaboration, aiming to triple bilateral trade by 2045. Luxon and his Thai counterpart, Srettha Thavisin, held discussions covering various sectors including trade, education, investment, visa arrangements, tourism, transnational crime, and cybersecurity.

It was agreed to upgrade the relationship between Thailand and New Zealand to a strategic partnership by 2026 or earlier, coinciding with the 70th anniversary of diplomatic ties. This move is expected to provide impetus for further expansion and deepening of cooperation across all sectors.

Luxon noted that trade between the two nations had already tripled since the signing of a free trade agreement two decades ago. However, both leaders emphasized the need to explore additional avenues for economic cooperation and announced the ambitious goal of tripling two-way trade by 2045.

Furthermore, business delegations from both countries convened to bolster bilateral economic ties. The leaders also anticipated tariff-free entry for Thai and New Zealand imports effective January 2025, along with streamlined visa processes and the resumption of direct flights post-pandemic.

Before a joint news conference, the prime ministers oversaw the signing of agreements aimed at enhancing cooperation in education and aviation supply, repair, and maintenance.

(Source: The Washinton Post)

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