Thailand urges Singapore to boost rice and egg imports
Thai Commerce Minister Pichai Naripthaphan has urged Singapore to increase its imports of Thai rice and free-range eggs following the seventh Singapore-Thailand Enhanced Economic Relationship (STEER) meeting.
Held on March 14 in Singapore, the meeting was co-chaired by Doctor Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry.
The discussions aimed at boosting trade and investment between the two nations to ensure continued growth. Singapore has shown a positive response and plans to send a delegation to inspect Thai farms soon.
The talks also covered increasing Thai rice imports, particularly jasmine rice, white rice, and health-oriented rice, with Singapore’s Rice Importers Association confirming a growing demand for Thai rice.
Singapore was also invited to expand its investment and service industries in Thailand, focusing on clean energy, electronics, financial services, and IT skill development. The initiative is part of Thailand’s preparation for a transition to a digital economy and environmentally friendly industries.
Singapore agreed and is planning to hold a Singapore Regional Business Forum in Thailand, bringing in business leaders and investors from over 30 countries to explore business opportunities. This event presents a significant opportunity for Thai entrepreneurs, especially SMEs, to build networks and connect to the global supply chain.
The STEER meeting concluded with the signing of five Memoranda of Understanding (MOUs) between the public and private sectors of the two countries.
These MOUs cover various areas: e-commerce, to boost Thai products and services on the Shopee platform; consumer protection, to enhance cross-border online shopping confidence; livestock products, to exchange import-export regulations; securities services, to develop financial technology platforms for investment product access; and intellectual property, to advance cooperation plans from 2025 to 2027.
The collaborations aim to strengthen the longstanding 60-year economic and diplomatic relations between Thailand and Singapore, reported KhaoSod.
Currently, Singapore ranks as Thailand’s 10th largest trade partner globally and fourth within ASEAN countries. In 2024, the total trade value between Thailand and Singapore was US$17,758.84 million (approximately 637 billion baht), marking a 3.32% decrease.
Exports stood at US$10,363.82 million, a rise of 1.21%, while imports were US$7,395.01 million, a decline of 9.02%. Thailand maintained a trade surplus of US$2,968.81 million.
Latest Thailand News
