UK And Thailand Talk About Investments And Alliances

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In a meeting, Deputy Prime Minister Somkid Jatusripitak told British International Trade Secretary Liam Fox that he wants the United Kingdom to invest more in Thailand on several areas where the British are considered experts like the services sector, software and the development of schools in Thailand. Liam Fox is in Thailand because investors were invited to invest in the Eastern Economic Corridor that will cover Chachoengsao, Chon Buri and Rayong provinces.

Since the United Kingdom will soon be leaving the European Union, it is looking for other areas of investment like Thailand. Clear signals are being sent by the UK that it wants to seek alliances elsewhere. Liam Fox’s visit to Thailand is aimed at strengthening bilateral ties with Thailand including the trade and investment flows between the two countries.

In the meeting, Somkid further said that he would lead the ministers of commerce, digital economy and society including education and leading business figures on a delegation to the UK in the future. Thailand has the second largest economy in Southeast Asia. Bilateral trade with the UK has increased by 2.8% to 5.6 billion Euros in 2015-16. The bulk of UK exports to Thailand include machinery, vehicles and mechanical appliances.

Liam Fox is the first UK trade minister that visited Thailand in the last 15 years and he is expected to raise the subject of a national election as promised by Thailand. UK trade with Thailand is on a steady growth but there is still a huge untapped demand for British goods and services across Thailand.

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