Thailand seeks deeper economic integration with Hong Kong

The commerce minister highlighted Thailand’s role as ASEAN’s gateway and Hong Kong’s position as a financial hub, aiming for deeper economic integration

 

Thailand is positioning itself, alongside Hong Kong, as a key global trade hub while advancing free trade agreements (FTAs) with multiple international partners. 

 

Commerce Minister Pichai Naripthaphan outlined this strategy in a speech at a business luncheon in Hong Kong on Friday. 

 

Speaking at the event, co-hosted by the Hong Kong Economic and Trade Office and the Thai-Hong Kong Trade Association, Pichai underscored the deep economic ties between the two regions, particularly within the Guangdong-Hong Kong-Macao Greater Bay area. He stressed the potential for collaboration to enhance trade security and economic resilience. 

 



 

Existing agreements, such as the double-taxation treaty, the investment promotion and protection agreement and the ASEAN-Hong Kong Free Trade Agreement, were cited as crucial mechanisms for fostering trade and investment. Pichai also pointed to the Regional Comprehensive Economic Partnership, the world’s largest free-trade agreement, as a key driver of regional economic integration. 
  

The Thai government is actively pushing economic liberalisation and foreign investment, particularly in key industrial sectors, he said, adding that Thailand also plans to work with Hong Kong in developing a robust financial centre. 

 

Thailand’s economy showed healthy growth in 2024, with exports expanding by 5.4%, including an 8.7% surge in December alone. Investment promotion reached a 10-year high at 1.13 trillion baht. 
  



 

The country is also accelerating FTA negotiations with various partners. The FTA with the European Free Trade Association (EFTA), finalised in Davos, Switzerland, in January this year, marks Thailand's first such agreement with a European bloc.

 

Discussions are also advancing with the European Union (EU), Israel, Bhutan, the United Arab Emirates, South Korea, Canada and the United Kingdom. 

 

Pichai emphasised Hong Kong’s critical role as a gateway for China’s global trade and financial connectivity. He positioned Thailand as a bridge to ASEAN m markets for Hong Kong and China, pledging Commerce Ministry support for businesses seeking trade and investment opportunities. 

 



 

Hong Kong is Thailand's 12th largest trading partner, with bilateral trade in 2024 reaching US$17.04 billion, marking a 24.3% increase year-on-year.

(2025/02/14-00:00)