Prime Minister Srettha Thavisin led a Thai business delegation to visit France on 15-16 May 2024 and participate in the Thailand-France Business Forum in Paris to encourage more French businesses to invest in Thailand. 

In his remarks at the forum, the Prime Minister stated that the Thai government had recently launched the “IGNITE THAILAND” vision to elevate Thailand into a global hub in eight sectors. These are tourism, wellness and medical, agriculture and food, aviation, logistics, future mobility, digital economy, and finance. This vision presents vast potential for French companies interested in investing in Thailand.

First is logistics. With Thailand’s strategic location, the Government aims to make Thailand the connectivity hub of Southeast Asia and beyond. The country’s flagship mega project, the “Landbridge,” is underway. This will play an essential part in connecting trade and logistical route from the Pacific Ocean to the Indian Ocean. When finished, the Landbridge will also open further possibilities for land and sea transport connectivity with various partners.

Second is aviation. Thailand aims to become the aviation hub for both passengers and goods. The Government is accelerating plans to build new airports and upgrade many existing ones in various parts of the country. The development of Aviation Maintenance, Repair, and Overhaul (MRO) is also planned, which will enable Thailand to become a full-service aviation hub. The Prime Minister invited France to tap into this opportunity.

Third is digital. Thailand has a strong foundation in this sector, with extensive 5G-internet coverage and strong digital infrastructure. On top of that, Thai people are very active on digital platforms, and mobile payments have become the norm. With this strong foundation, the Government wants to make Thailand the digital economy hub in the region. The success of these projects can make Thailand a gateway to the Indo-Pacific region, which is in line with France’s Indo-Pacific strategy.

The Prime Minister also expressed his sincere hope to receive France’s support toward the finalizing of the Thai-EU FTA. Once signed, it is predicted that EU’s exports to Thailand will increase by over 40% and that Thailand’s exports to the EU will expand by over 25%. He trusted that private-sector enthusiam in both countries holds the key to successful negotiation of the FTA.

While giving high priority to economic development, the Prime Minister emphasized that global challenges need to be addressed as well. Sustainability remains on top of the Thai government’s agenda. The country’s green transition goal is one of the most ambitious in Southeast Asia, and a complete roadmap has been put in place to have 50% of energy production be renewable by 2040.

Thailand aspires to be the hub for future mobility, especially for the whole value chain of the electric vehicle (EV) industry. The country is also looking into green hydrogen and Small Module Reactor as tools to enable greener manufacturing.

In conclusion, the Prime Minister underlined two key points: First, he believed that more people-to-people contacts would bring about greater understanding, trust, and confidence. Therefore, he encouraged Thai and French people to reach out and visit each other as much as possible. Thailand facilitates visits by granting visa-free entry and stay to French nationals, and hopes to receive France’s support on visa exemptions in the Schengen area for Thai passport holders. Second, Thailand is open for business, with clear policy direction and favorable incentives. It is the Government’s strong commitment that what should be done, will be done, in order to facilitate and support the private sector. The Prime Minister expressed hope to see Franco-Thai economic and business partnership blossom.

Thailand is France's third-largest trading partner in ASEAN. Prime Minister Srettha believed that under his administration, the country can and should be France’s largest partner in the region, as yhe business relationship between the two countries is strong. On the people-to-people front, there are around 30,000 Thais living in France. While around 40,000 French nationals are living in Thailand, the second highest number of French expats in Asia. Last year, about 270,000 tourists from France visited Thailand, while France welcomed almost 200,000 Thais.

During this visit to France, Prime Minister Srettha also met Mr. Emmanuel Macron, President of France, to follow-up on bilateral cooperation, especially the strategic partnership.