Thai and French officials have discussed plans to improve the two nations' defence industries at a special seminar, with the Thai government looking to procure defence products worth 200 billion baht over the next 20 years.
Defence Minister Sutin Klungsang and the French Ambassador to Thailand recently presided over the opening of the Thailand-France Seminar on the Defence Industry 2024 at the Office of the Permanent Secretary for Defence.
The seminar was attended by several high-level officials from defence-related agencies and 100 Thai and French entrepreneurs.
It was held as part of an agreement contained in a letter of intent (LOI) jointly signed by Thailand's Defence Industry and Energy Centre and France's defence procurement agency, the Direction Generale de l'Armement (DGA), on May 17.
The LOI was signed to determine guidelines and exchange ideas to foster investment and establish a network of Thai and French defence industries. This is part of the Thai government's bid to increase the country's ability to produce its own defence products.
According to Mr Sutin, the ongoing conflicts in Europe and the Middle East are resulting in several countries using a large amount of defence equipment in their armouries, accumulating arms and investing in their defence industries.
Mr Sutin mentioned four types of defence products Thailand is producing -- armoured vehicles, warships, unmanned aerial vehicles (UAVs) and firearms and ammunition, adding the country has the opportunity to sell such products to Asean, Middle Eastern and African countries.
In addition, he revealed that the Thai government will procure 200 billion baht worth of defence vehicles, warships, UAVs, firearms and ammunition.
Therefore, if these products are manufactured in this country, a great amount of revenue will be generated for the economy.
The seminar followed Prime Minister Srettha Thavisin's meeting in May with the French president in France and Mr Sutin's visit to Paris in June for the Eurosatory 2024 exhibition.