Thailand and Italy to ‘grow’ a fruitful partnership in agriculture

Thailand and Italy are poised to formalise an agreement to boost collaboration in agriculture, focusing on production, trade, and investment. Agriculture and Cooperatives Minister Narumon Pinyosinwat announced the development after a meeting with Italy’s Minister of Agriculture, Francesco Lollobrigida.

The need for a new memorandum of understanding (MoU) has been highlighted to establish a definitive path for future cooperation between the two nations. During their discussions, officials from Thailand and Italy deliberated on strategies to enhance the agricultural sectors of both countries, including expanding mutual imports and exports.

Francesco Lollobrigida described the bilateral talks as fruitful, expressing Italy’s readiness to support the Thailand-European Union Free Trade Agreement (FTA). He added that Italy could assist Thailand in enhancing sanitary and phytosanitary measures and advancing sustainable food systems.

From January to September, Thailand’s exports to Italy were valued at 11.88 billion baht (US$342 million), marking a rise of 3.32 billion baht (US$95.6 million) compared to the same timeframe last year. The primary exports included pet food for retail, frozen squid products, natural rubber, smoked rubber sheets, partially milled rice and milled rice, processed fish products, and fruits and vegetables, reported Bangkok Post.

The meeting also explored potential knowledge exchanges between Thai silk producers and Italian fashion designers, aligning with the Thai government’s soft power promotion policy, said Narumon.

“The talks also touched on the possibility of exchange of know-how on silk cloth production and design because Italy is the world’s leader in fashion.”

In related news, Thailand emerged as the largest exporter of agricultural products in Southeast Asia and the eighth-largest globally, thanks to its free trade agreements (FTAs).

The Trade Negotiations Department highlighted this achievement, with the Director-General, Chotima Iemsawasdikul, attributing the success to these agreements despite growing foreign competition and global economic uncertainties.

Thailand’s agricultural export value reached US$19.8 billion (638 billion baht) in the first eight months of 2024, marking an 8% increase year-on-year. Notably, exports to FTA partners amounted to US$13.7 billion, representing 69% of the nation’s total agricultural exports.