Thailand’s PM Prayut invites US to invest in supply chains

As part of his visit to the US, Thailand’s PM Prayut Chan-o-cha has attended the 2nd ASEAN-US Special Summit in Washington last week. Now, he is inviting the US to invest or set up supply chains in Thailand to fill gaps created by the Russia-Ukraine crisis. And not the least the ongoing disruption of China’s part in the supply chain with its lockdowns and interruptions over Covid-19.

PM Prayut said last week, ahead of the summit, that Thailand won’t pick a side between Russia and Ukraine, and will remain politically neutral. However, he stresses that Thailand can help the US fill the broken global supply chain, saying that Thailand is an important trade hotspot. After the summit, Prayut says that he is ready to host US President Joe Biden at the 29th APEC summit in November.

“I think we have to adjust in many aspects to keep up with global changes – especially in industry and the economy – and find ways to boost Thailand’s income and GDP in the future.”

The Thai PM went on to use the ever-so-neutral language that Thai officials have been using ever since Russia invaded Ukraine in February. He stressed that the US and other powerful countries should focus on “humanitarian” efforts. Even though Thailand voted in March for a UN resolution demanding Russia withdraw forces from Ukraine, Thailand nevertheless confirmed that month it will remain neutral.

PM Prayut says that at the recent summit, Thailand and the US discussed trade and investment in industries including tech, clean energy and electric vehicles.

Historically, the Thai government has officially retained a neutral stance in many of the world’s conflicts, and courted both the US and China, diplomatically, over recent decades.

SOURCE: Nation Thailand