Vice Minister for Foreign Affairs of Thailand highlighted Thailand’s ranking as the second largest food exporter in Asia and readiness to explore trade and investment opportunities with Indonesia to promote food safety and security at the online business forum to commemorate the 70th Anniversary of Thailand –Indonesia Diplomatic Relations on “Turning Crisis into Opportunity: Enhancing Indonesia and Thailand Trade and Investment in the Era of Disruption and Uncertainty of COVID-19 Pandemic.”

On 11 November 2020, H.E. Mr. Vijavat Isarabhakdhi, Vice Minister for Foreign Affairs of the Kingdom of Thailand, delivered the opening remarks together with H.E. Mr. Mahendra Siregar, Vice Minister for Foreign Affairs of the Republic of Indonesia, at the online business forum on “Turning Crisis into Opportunity: Enhancing Indonesia and Thailand Trade and Investment in the Era of Disruption and Uncertainty of COVID-19 Pandemic,” to commemorate the 70th anniversary of Thailand – Indonesia diplomatic relations. The event was jointly organised by the Ministry of Foreign Affairs of Thailand and the Ministry of Foreign Affairs of Indonesia.

In his opening remarks, the Vice Minister for Foreign Affairs reiterated the long-standing historical and diplomatic relations between Thailand and Indonesia, both founding members of ASEAN. Amid the COVID-19 pandemic, Thailand and Indonesia turned the crisis into opportunity to “Build Back Better”, by utilising their existing potential. Thailand, with its goal to be “Kitchen of the World,” is a strong player in the global food industry and agriculture, and is the second largest food exporter in Asia, as well as the 11th largest food exporter of the world, with a value of 33 billion USD. For this reason, Thailand is keen to enhance its cooperation with Indonesia to promote food security and food safety. Thai companies are also ready to explore trade and investment opportunities with their Indonesian counterparts.

The Vice Minister for Foreign Affairs of Indonesia underlined Thailand’s crucial role as a long-term economic partner and ally in ASEAN. Indonesia has been home to many Thai companies, such as Charoen Pokphand, Bangkok Bank, and SCG, while Thailand has become a new market for Indonesian companies, including Gojek. Apart from food and beverages, Indonesia also offers opportunities for investment in related sectors, including agriculture, fishery, processed food, and cold storage. With the signing of the Regional Comprehensive Economic Partnership (RCEP) this year, ASEAN’s role in the global supply chain will be intensified. Therefore, Thailand and Indonesia should enhance and expand their cooperation.

At the forum, the Thai speakers included Ms. Napat Thuppun, Director of Thailand Board of Investment (BOI), Jakarta Office, and Mr. Tust Thangsombat, Honorary President and Chairman of Seafood Group, Thai Food Processors’ Association. The Indonesian speakers were Mr. Adhi Lukman, Head of the Indonesian Food & Beverage Association; Mr. Mohammad Faisal, Director of Indonesia Investment Promotion Centre (IIPC), Singapore; and Mr. Kenneth Li, Managing Partner MDI Ventures.

Speakers from Thailand and Indonesia presented information including business adjustment during the COVID-19 pandemic; the use of digital technology and e-commerce; the opportunities and the competency development for investment after the pandemic. Indonesian speakers also informed about the new Omnibus Law which will help facilitate and encourage foreign investment in Indonesia.