Thailand revives trade with Pakistan in major economic pact
After a decade of silence, Thailand and Pakistan are back at the negotiating table, reigniting hopes for a booming trade partnership. The two nations have agreed to resume talks under their Joint Trade Committee (JTC) at the ministerial level, with Thailand hosting the next round of discussions later this year.
In a recent meeting between Thailand’s Minister of Commerce, Pichai Naripthaphan, and Pakistan’s Ambassador to Thailand Rukhsana Afzaal, both sides outlined ambitious plans to deepen economic ties. At the heart of the agenda is the revival of Free Trade Agreement (FTA) negotiations and collaboration in key industries like food, textiles, gems, fisheries, and tourism.
Thailand’s exports, including synthetic fibres, automotive parts, and chemicals, are critical to Pakistan’s supply chain. Meanwhile, Pakistan’s vast natural resources, such as seafood and gemstones, perfectly complement Thailand’s industrial needs. With Pakistan’s population surpassing 240 million, including 80 million working-age individuals, the potential for trade expansion is immense.
Investment is also on the radar. Pakistan’s Special Investment Facilitation Council is courting foreign investors in agriculture, IT, renewable energy, and mining. On the other hand, Thailand has invited Pakistani firms to explore its burgeoning data centre sector, boasting state-of-the-art infrastructure and ample resources.
The two nations are also doubling down on promoting bilateral trade through events like Pakistan’s My Karachi Oasis of Harmony Exhibition, where Thailand plans a strong presence.
With trade volumes already exceeding US$1 billion (approximately 34.64 billion baht) last year, this renewed collaboration signals a bold new chapter. Analysts predict that Thailand and Pakistan’s strengthened partnership could unlock unprecedented economic opportunities for both nations, reported Pattaya Mail.
Between 2015 and 2020, Thailand and Pakistan actively enhanced their diplomatic relations through high-level visits, trade negotiations, and cultural exchanges. Former Prime Minister Yingluck Shinawatra visited Pakistan in August 2013 where both nations expressed a commitment to double bilateral trade to US$2 billion by 2018.
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