Thailand’s Role in U.S. Economic Security Recognised

[webfact]

 

The United States has acknowledged Thailand’s growing importance in its economic security, following a recent visit by the President’s Export Council (PEC) and U.S. Secretary of Commerce Gina Raimondo. The visit aimed to bolster trade and investment ties between the two countries.

 

The PEC's detailed report, titled “REPORT OF THE PRESIDENT’S EXPORT COUNCIL: Reflections on Commercial Engagement in the Indo-Pacific and Recommendations for Strengthening the U.S.-Thailand Commercial Relationship,” was released by the International Trade Administration on 11th June. It spotlights the robust economic prospects and the deep-rooted partnership between the U.S. and Thailand.

 

Chai Wacharong, a government spokesperson, elaborated that the U.S. delegates were warmly welcomed during this visit. They engaged in fruitful discussions with Thai Prime Minister Srettha Thavisin and officials from key ministries, including Commerce, Digital Economy and Society, and Foreign Affairs. They also met with Thai business leaders to explore trade and investment opportunities.

 

An essential takeaway from the report is Thailand's role as a prominent Southeast Asian partner for the U.S. Thailand is the U.S.'s 18th largest trade partner, with a significant trade volume reaching approximately 72.1 billion US dollars in 2023. Thai investments in the U.S. stand at 2.5 billion dollars, creating numerous jobs across America.

 

The report also appreciated Prime Minister Srettha’s proactive approach in making Thailand more attractive to foreign investors. His diplomatic efforts included multiple visits to the U.S. to highlight Thailand’s investment potential.

 

Chai emphasised that the PEC report recognises Thailand's pivotal role in U.S. economic growth and points to the Prime Minister’s contributions towards strengthening bilateral trade relations. The focus is on increasing foreign investment, enhancing economic efficiency, and improving the well-being of the Thai population.

 

Picture courtesy: National News Bureau of Thailand

 

-- 2024-06-29

 

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[Srikcir]

2 hours ago, webfact said:

Thai investments in the U.S. stand at 2.5 billion dollars, creating numerous jobs across America.

Oh my goodness, Thailand has saved America's economy.

Compare: in 2022 the main investing countries in the U.S. 

• Japan (USD 721 billion), Canada (USD 607.2 billion), Germany (USD 498.6 billion), the United Kingdom (USD 439 billion), South Korea (USD $21.3 billion) with Europe as a whole accounting for USD 2.8 trillion. 

Contrast with $58.6 billion in Thai exports to the United States versus $15.8 billion in U.S. exports to Thailand. Thailand exports to China was US$34 Billion (2022). 

But where does Thailand's strategic allegiance lay? Yup. 

[Presnock]

56 minutes ago, Srikcir said:

Oh my goodness, Thailand has saved America's economy.

Compare: in 2022 the main investing countries in the U.S. 

• Japan (USD 721 billion), Canada (USD 607.2 billion), Germany (USD 498.6 billion), the United Kingdom (USD 439 billion), South Korea (USD $21.3 billion) with Europe as a whole accounting for USD 2.8 trillion. 

Contrast with $58.6 billion in Thai exports to the United States versus $15.8 billion in U.S. exports to Thailand. Thailand exports to China was US$34 Billion (2022). 

But where does Thailand's strategic allegiance lay? Yup. 

Yes, the move to BRICS, Thai strengthening trade deals with China and recently news reports of China pouring junk into Thailand...what a joke just like the 2017 deal with China to take their E-waste materials!

 

[Taboo2]

Thailand will soon realize that BRICS is a joke and come back with tails between their legs to America and it's consumers.  Vietnam is not stupid and ignore BRICS because they are smart.

[jimgilly]

The US and the West are on their way out in more ways than one.  Countries are dumping the $ as the US is totally broke with the US national debt at nearly $35 trillion and adding $2 trillion to that yearly.  Soon it will have to print more $ to cover its debt-funded spending as other countries stop buying and start selling the US treasury bonds they are holding. 

 

Add the 20 million illegals scattered around the country, (many CCP operatives), and the turmoil that will surely follow after the coming presidential election that could lead  to a civil conflict among other problems, and you have a perfect storm brewing.

 

The Thais know this and going forward I expect we will see a bigger shift away from the US as Thailand joins the other BRIC nations which will prove to be the right move.  Don't believe me -watch and see.

 

 

[Presnock]

6 hours ago, webfact said:

 

The United States has acknowledged Thailand’s growing importance in its economic security, following a recent visit by the President’s Export Council (PEC) and U.S. Secretary of Commerce Gina Raimondo. The visit aimed to bolster trade and investment ties between the two countries.

 

The PEC's detailed report, titled “REPORT OF THE PRESIDENT’S EXPORT COUNCIL: Reflections on Commercial Engagement in the Indo-Pacific and Recommendations for Strengthening the U.S.-Thailand Commercial Relationship,” was released by the International Trade Administration on 11th June. It spotlights the robust economic prospects and the deep-rooted partnership between the U.S. and Thailand.

 

Chai Wacharong, a government spokesperson, elaborated that the U.S. delegates were warmly welcomed during this visit. They engaged in fruitful discussions with Thai Prime Minister Srettha Thavisin and officials from key ministries, including Commerce, Digital Economy and Society, and Foreign Affairs. They also met with Thai business leaders to explore trade and investment opportunities.

 

An essential takeaway from the report is Thailand's role as a prominent Southeast Asian partner for the U.S. Thailand is the U.S.'s 18th largest trade partner, with a significant trade volume reaching approximately 72.1 billion US dollars in 2023. Thai investments in the U.S. stand at 2.5 billion dollars, creating numerous jobs across America.

 

The report also appreciated Prime Minister Srettha’s proactive approach in making Thailand more attractive to foreign investors. His diplomatic efforts included multiple visits to the U.S. to highlight Thailand’s investment potential.

 

Chai emphasised that the PEC report recognises Thailand's pivotal role in U.S. economic growth and points to the Prime Minister’s contributions towards strengthening bilateral trade relations. The focus is on increasing foreign investment, enhancing economic efficiency, and improving the well-being of the Thai population.

 

Picture courtesy: National News Bureau of Thailand

 

-- 2024-06-29

 

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here it indicates that Thailand is actively approaching the US for closer ties, yet at the same time the Thai govt is working closed with FTA with China while the Thai govt asking to join BRICS seems like they want to have their cake and eat it too in my opinion.

[topt]

1 hour ago, Presnock said:

here it indicates that Thailand is actively approaching the US for closer ties, yet at the same time the Thai govt is working closed with FTA with China while the Thai govt asking to join BRICS seems like they want to have their cake and eat it too in my opinion.

IMO this appears to be Thailand's "normal" practice with pretty much everything. Trying to stay balanced on the fence to gain benefit from any side........

[connda]

America doesn't know how to play in an open and free global market.  So it relies on bullying other nations with sanctions if it can't pursued them to only trade with the US and the West and states that it's to reinforce the America's "National Security."

"You must be a good trading partner <pats Thailand leaders on the head>.  Good Thailand, heel.  HEEL Thailand!!!  Heel or we take away all your toys and your bones!  Don't make me break out the whip Thailand!"

I find it really sad imho.  America doesn't want to participate in global trade as an equal trading partner - it wants to control global trade for its own national interests and national corporate profits. 

Sorry America - BRICS+ is coming and it's gonna be a new multi-polar trading paradigm.  Adapt or fail economically.

 

 

Edited June 29 by connda