Thailand and Sweden eye bigger trade boost and tech ties
Thailand and Sweden held talks to boost bilateral trade and investment, focusing on technology, green products, and a potential EU free trade agreement.
In a high-level meeting on Friday, November 14, Commerce Minister Suphajee Suthumpun sat down with Swedish Ambassador Anna Hammargren to push forward the Thailand-Sweden Strategic Partnership and discuss fast-tracking negotiations on a long-awaited Thailand–EU free trade agreement.
“The meeting underscored the potential for further investment and collaboration to leverage Thailand’s manufacturing capabilities and Sweden’s technological expertise.”
The two sides pinpointed promising growth in sectors such as innovative technology, telecommunications infrastructure, sustainable consumer products, and Thai agricultural and processed food exports, especially organic goods that appeal to Sweden’s health-conscious and eco-aware market.
Swedish multinationals such as Saab, Volvo, Electrolux, Ericsson, IKEA, and Purac have long maintained a presence in Thailand, with more than 100 Swedish firms now operating across the country. The nations share a trade relationship dating back 157 years, reflecting deep-rooted economic ties and mutual trust.
In 2024, bilateral trade between the two countries totalled US$1.25 billion (about 45 billion baht). Thai exports accounted for US$507.7 million, consisting of products such as cosmetics, soaps, rubber, processed wheat items, automobiles, and air-conditioning units.
Meanwhile, imports from Sweden reached US$737.7 million, driven by high-value goods such as industrial machinery, medical devices, aircraft components, pulp, and paper products.
Both nations expressed strong interest in strengthening their positions in clean and green technologies, a shared priority as global demand for sustainable solutions rises. Sweden is also seen as a key partner in Thailand’s transition to a digital and innovation-led economy, reported Bangkok Post.
With Sweden’s reputation for cutting-edge innovation and Thailand’s role as a regional manufacturing hub, officials on both sides believe deeper cooperation could lead to significant mutual gains.
The Ministry of Commerce said it remains committed to expanding high-quality trade relationships with EU nations and is hopeful the Thailand–EU FTA will move forward without delay.
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