On 9 September 2019, H.E. Mr. Vijavat Isarabhakdi, Vice Minister for Foreign Affairs of the Kingdom of Thailand, gave a keynote opening address at Innovate Canada – ASEAN Forum co-hosted by the Canada – ASEAN Business Council and the Thai – Canadian Chamber of Commerce at Marriott Bangkok, the Surawongse.

 

The Vice Minister highlighted the strategic importance of ASEAN and its highly dynamic economy as the world’s sixth largest market, with a combined population of more than 650 million people, and Canada’s sixth largest trading partner. ASEAN is moving forward to further strengthen cooperation with Canada in all dimensions, including in the fields of innovation and technology. With Canada being one of the global leaders in science, technology, and innovation, the Thai Government is aiming to connect Thailand’s growing demand for technological advancement with Canada’s leading-edge technologies to transform the Thai economy into a value-based one in line with the Thailand 4.0 paradigm. Expanding trade and investment opportunities will be mutually beneficial for both sides.  

 

Currently, Thailand is Canada’s second largest trading partner in ASEAN while Canada ranks 32nd worldwide among Thailand’s trading partner. In 2018, the two countries enjoyed bilateral trade amounting to around 2.6 billion USD and a bilateral investment portfolio at 82.5 million USD with great potential for expansion.