Leaders discuss digital and green economy collaborations to boost regional ties.
Singapore and Thailand maintain a strong economic relationship, with bilateral trade reaching S$42.1 billion in 2022, Prime Minister Lee Hsien Loong highlighted during a meeting with Thai Prime Minister Srettha Thavisin. The visit, Srettha’s first since taking office, underscored growing cooperation in trade, investment, and renewable energy initiatives.
Singapore was Thailand’s eighth-largest trading partner in 2022, while Thailand ranked ninth for Singapore. Despite the global economic slowdown, bilateral trade continued to rise, with Singapore also becoming Thailand’s second-largest source of foreign direct investment in early 2023.
Key discussions included expanding cooperation in the digital economy, particularly through Thailand’s potential participation in the Digital Economy Partnership Agreement (DEPA). The two leaders also emphasized cross-border green initiatives, such as renewable energy trade and carbon credit collaboration.
Srettha’s visit to Singapore was part of a broader regional tour aimed at strengthening economic ties. His engagements included meetings with Singaporean officials and business leaders to explore opportunities for investment and collaboration.
