Sign up | Log in



Home  >>   Daily News  >>   Thailand News  >>   Ties  >>   thailand_and_s_korea_aim_to_double_bilateral_trade
NEWS UPDATES Asean Affairs    12 November 2012 

Thailand and S. Korea aim to double bilateral trade


Thailand and South Korea committed yesterday to a plan to double bilateral trade to US$30 billion a year within five years.

Thai Prime Minister Yingluck Shinawatra and visiting South Korean President Lee Myung-bak held talks and signed a memorandum of understanding to boost cooperation in four spheres - political, economic, socio-cultural, science and technology - and push the value of bilateral trade to $30 billion within 2016. Last year, trade between the two countries was worth $13.9 billion.

Expressing confidence that the goal could be achieved, Lee and Yingluck agreed that the recent opening of several South Korean bank branches in Thailand would facilitate trade and investment.

The two leaders also expressed their commitment to promote regional cooperation under the Asean+3 framework, the East Asia Summit and the Asean Regional Forum (ARF). Yingluck said they agreed to speed up ratification of a 2013-2017 trade and economic development plan, adding that action plans would be formulated to minimise trade obstacles. Bilateral trade negotiations under a joint commerce committee will also be revived. The two sides also agreed to jointly host a disaster drill under the ARF framework next year.

Yingluck proposed an integrated economic partnership agreement to cope with increasing trade and investment in the future. Thai and Korean trade ministers will work together on this issue.

South Korea was also interested in importing more Thai farm products such as rice, fruit and frozen poultry.

As the number of Korean tourists in Thailand last year reached a new record of 1.3 million, Yingluck proposed bilateral talks on aviation services to accommodate travellers and trade. The two leaders also agreed to take steps to protect tourists from each other's countries.

South Korea expressed interest in investing in the Thai-proposed high-speed rail project linking Chiang Mai to Bangkok, as well as water-management and electricity-generating projects, and the Dawei deep-sea port on Myanmar's eastern coast.

Thailand and Korea celebrate the 55th anniversary of diplomatic ties next year. The two leaders agreed to promote cultural cooperation through the establishment of cultural centres in Seoul and Bangkok to mark the anniversary.

As for regional security cooperation, Yingluck said she affirmed Thailand's support for South Korea's attempts to achieve peace and stability and eradicate nuclear weapons from the Korean Peninsula. Lee expressed his thanks for the Kingdom's support. Before the meeting, a guard of honour and ceremony was held at Government House to welcome the South Korean president on his three-day visit to Thailand.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    12 November 2012   Subsribe Now !
• Obama’s historic trip to Thailand, Cambodia, Myanmar in Nov 2012
Subcribe: Asean Affairs Global Magazine
• Myanmar earthquake shakes Bangkok, Northern Thailand Asean Affairs Premium
• Myanmar plans to boost border trade with Bangladesh
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Thailand and S. Korea aim to double bilateral trade
• New models increase car sales in Vietnam  

Asean Analysis              12 November 2012
Advertise Your Brand
• Asean Analysis- November 12, 2012  
• Asean Weekly-  November 9, 2012 Sponsor Our Events

Asean Stock Watch     13 November 2012 

• Asean Stock Watch- November 13, 2012

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand