Thailand and Australia are seeking to reinforce sustainable and stable regional trade, with a focus on increasing the value of automotive exports and maintaining Thailand’s position as the top exporter of pickup trucks to Australia, Commerce Minister Pichai Naripthaphan said on Saturday.
He was summarising his meeting with Angela Macdonald, the Australian Ambassador to Thailand, at her residence in Bangkok on Wednesday.
One key topic of discussion was Australia’s New Vehicle Efficiency Standard (NVES), a framework designed to promote the adoption of low- and zero-emission vehicles. It took effect on Jan 1 this year with compliance to be enforced starting on July 1.
Former prime minister Srettha Thavisin last year called on Australia to slow down the plan, as some Thailand-based car producers were not yet ready to met the tougher emissions requirements.
Mr Pichai said that he requested that the regulations be applied gradually to avoid adverse impacts on bilateral trade.
Thailand remains the leading source of pickup trucks for the Australian market, with an import value of US$4.66 billion (153 billion baht) in 2024, he noted.
The two countries are partners in three major free trade agreements: the Thailand-Australia Free Trade Agreement, the Asean-Australia-New Zealand Free Trade Agreement (AANZFTA), and the Regional Comprehensive Economic Partnership (RCEP).
In addition, they are involved in the Thailand-Australia Strategic Economic Cooperation Arrangement, as well as the upgraded AANZFTA, which is currently undergoing ratification.
Amid global economic uncertainties, both sides should take advantage of these agreements to enhance trade and investment, particularly in data centre infrastructure, Mr Pichai said, highlighting Thailand’s energy security as a key advantage for foreign investors.
In 2024, total trade between Thailand and Australia amounted to US$17.84 billion, a decline of 6.4% from the year before, with Thailand enjoying a trade surplus of $6.82 billion.
Major export products included automobiles, auto parts and accessories, air conditioners and computer-related equipment. Imports from Australia were valued at $5.51 billion, comprising mainly natural gas, crude oil, and precious stones and metals.