The Department of American and South Pacific Affairs hosted a consultation between Thailand-Latin America Business Council and five Royal Thai Embassies in Latin American countries to exchange in-depth information on business opportunities and explore market sectors with potential for BCG model and the post COVID-19 economic recovery.

On 29 June 2021, the Department of American and South Pacific Affairs, the Ministry of Foreign Affairs of Thailand, hosted a virtual conference between Thailand-Latin America Business Council, and the Royal Thai Embassies with Team Thailand in five Latin American countries, namely Argentina, Brazil, Chile, Mexico and Peru. The Meeting was also joined by representatives from the Ministry of Commerce of Thailand.

The Meeting exchanged in-depth information and views on economic opportunities in potential product goods and business sectors, relevant rules regulations, and the socio-political context of main countries in Latin American region which is home to more than 650 million people, to be in line with the Government’s policies in promoting Thailand’s new market” as well as the post COVID-19 economic recovery and Bio-Circular-Green Economy (BCG). Both sides took note of potential Thai products and services in the region-- electronic appliances, autoparts, agricultural industry, clean and renewable energy, hotels, and creative industry. 

Thailand-Latin America Business Council has nominated its Country Representatives as focal points with 5 Thai embassies in the region. The council planned to organise separate meetings with each embassy in July 2021, aiming to draft a work plan and push forward business promotion on its targeted sectors, such as autoparts and electric vehicles (EVs) in Argentina, agricultural machinery in Brazil, blockchains and startups in Chile, and oil and gas industry in Peru, including establishing a trade and investment promotion office in Mexico. The Thai private sector also agreed to negotiate more Free Trade Agreements (FTAs) with key countries or regional groupings in Latin America in addition to Chile and Peru, to enhance competitiveness of Thai entrepreneurs.

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