On 23 September 2024, H.E. Mr. Maris Sangiampongsa, Minister of Foreign Affairs, deposited the ratification instruments for two important Indo-Pacific Economic Framework (IPEF) Agreements to Counselor of the U.S. Department of State Tom Sullivan during their meeting in New York. The two IPEF Agreements are IPEF Overarching Agreement to set up mechanisms at the ministerial level to oversee IPEF overall cooperation and IPEF Agreement relating a Fair Economy to promote tax transparency and anti-corruption.

The Foreign Minister previously signed the two Agreements on 6 June 2024 during the IPEF Ministerial Meeting in Singapore. The Fair Economy Agreement will promote cooperation that helps Thailand enhance capacities in fulfilling its international commitments and standards on anti-corruption and tax transparency, which are essential to creating conducive environment for high-standard trade and investment, while the ministerial-level mechanisms to be set up under the Overarching Agreement will ensure that cooperation under each Pillar move forward in an effective and coherent manner.