SG, Thailand boost bilateral economic relations 

Several agreements including trade and investment were signed.

To maximise bilateral relations, Singapore and Thailand, the Lion City’s ninth trade partner, signed several agreements on trade and investment, aviation and tourism, and digital economy, innovation, and sustainability.

Minister for Manpower and Second Minister for Trade and Industry Tan See Leng represented Singapore during the sixth Singapore-Thailand Enhanced Economic Relationship Ministerial Meeting in the Land of Smiles. He met with  Thailand Deputy Prime Minister and

Minister of Commerce Jurin Laksanawisit to undergo the negotiations.

One of the agreements was fast tracking the Cruise Tourism Task Force to create a clear roadmap on bilateral initiatives to drive cruise tourism between Singapore and Thailand. 

READ: Singapore, Thailand to speed up talks on essential business travel

“The Ministry of Tourism and Sports and Singapore Tourism Board to work on the Terms of Reference of the Task Force, targeting to finalise the composition of the teams from both Singapore and Thailand by December 2022,” read the Ministry of Trade and Industry statement.

A memorandum of cooperation and Implementation Work Plan 2022 – 2024 was also inked between the Intellectual Property Office of Singapore and Thailand’s Department of Intellectual Property.

There were also discussions regarding carbon credits that will comply with Article 6 of the Paris Agreement, a rule book on governing carbon credits. 

“The Ministers agreed to work towards the development of an Implementation Agreement and to identify potential carbon credit projects for collaboration, by the United Nations Climate Change Conference next year,” read the statement.

At the sidelines, both ministers also witnessed the signing of a MoC and four memorandum of understanding between the two markets.