Italy-Thai Forum Strengthens Economic Bonds

[webfact]

 

The ninth annual Italian-Thai Business Forum (ITBF) took place recently in Florence, Italy, aimed at bolstering economic cooperation between the two nations. Organized by the Thai Chamber of Commerce, Thai Board of Trade, and the Italian Embassy in Bangkok, the forum builds on 156 years of diplomatic relations.

 

The event was attended by business leaders from 16 Thai and 13 Italian companies, reflecting the strong economic ties, with the total trading volume between Thailand and Italy reaching US$5.06 billion (190 billion baht) in 2023.

 

Thailand's Prime Minister Srettha Thavisin and Italian Prime Minister Giorgia Meloni had recently discussed collaborative trade and investment during a visit in May, with Meloni scheduled to visit Thailand in February 2025 to advance these discussions further.

 

The forum saw the presence of H.E. Paolo Dionisi, the Italian ambassador to Thailand, and H.E. Puttaporn Ewtoksan, Thai ambassador to Italy. 

 

Busaba Chirathivat, ITBF co-chair and advisor to Central Group, commented on the forum's significance: “The forum serves as a platform for executives from the private sectors of both countries to present their businesses’ strengths and potential, aiming to forge stronger partnerships that can propel target industries in a variety of areas.”

 

Italy is Thailand's 24th commercial partner and third among EU partners. The forum's goal is to deepen trade and investment ties, fostering tangible collaboration.

 

Thawatchai Setthachinda, Vice-President of the Thai Chamber of Commerce, stressed the importance of Unioncamere, the Italian Union of Chambers of Commerce, Industry, Crafts, and Agriculture, in supporting small and medium-sized enterprises (SMEs) across sectors like food, fashion, and lifestyle.

 

Italian firms at the forum included Italmobiliare, Intesa Sanpaolo, Ferrero, and Pirelli, among others. Thai participants included Central Group, Mitr Phol Group, Bangkok Bank, and Thai Union Group.

 

The longstanding forum underscores the commitment of both nations to enhance economic cooperation, boosting opportunities for increased trade and investment.

 

Picture courtesy: Thai Rath

 

-- 2024-07-06

 

Get our Daily Newsletter - Click HERE to subscribe