Dr Nalinee Taveesin, Thailand’s Trade Representative(TTR), met South African Ambassador Darkey Africa to strengthen cooperation by establishing a distribution center for Thai food and products and pushing for a Free Trade Agreement (FTA) between Thailand and the Southern African Customs Union (SACU).
Dr Nalinee Taveesin, Thailand’s Trade Representative (TTR), revealed after discussions with Mr. Darkey Ephraim Africa, the South African ambassador to Thailand, that both parties expressed their satisfaction with the strong and close relationship between the two countries in all dimensions.
Bilateral trade reached a value of US$4.08 billion in 2023
This includes high-level visits, tourism, and particularly in trade, where South Africa is Thailand’s number one trading partner in the African region and ranks 28th in the global market. In 2023, bilateral trade reached a value of US$4.08 billion, an increase of 14.56% from the previous year.
The Thai Trade Representative further disclosed that Thailand recognizes South Africa’s potential as a manufacturing and distribution hub in the African region, particularly in sectors where Thailand excels, such as food, processed food, automotive, and agriculture.
Simultaneously, South Africa can invest in Thailand, especially in special economic zones that connect to neighboring countries and ASEAN. Additionally, investors from both sides can benefit from trade privileges under various free trade agreements they are members.
South Africa, a strategic area for Thai investment in Africa
South Africa is considered a strategic area for Thai investment in Africa, particularly in the automotive industry and services. Recently, Thai Summit Auto Parts Industry Co established a factory in Pretoria and plans to expand to Durban.
In April this year, Minor Hotels, a Thai hotel operator with over 540 hotels in 56 countries across Asia-Pacific, the Middle East, Africa, the Indian Ocean, Europe, and America, signed a strategic partnership with the Cavaleros group from South Africa for hotel management.
Agreed to promote and support in trade shows
At the same time, both Dr Nalinee and the ambassador agreed to promote and support participation in trade shows organized by the private sector and business delegations from each country. This includes participation in THAIFEX Anuga Asia, the largest food trade fair in Asia, Style Bangkok, an international lifestyle and fashion trade show, and TAPA, which focuses on the automotive parts and accessories industry.
Thai entrepreneurs and the private sector should also consider participating in AfricaTech, Automechanika Johannesburg Show, or Solar Power Africa.
Participation in these trade shows presents a valuable opportunity for businesses from both sides to engage in discussions and introduce their products to investors and consumers from the other party. This will be a crucial factor in promoting trade and investment growth between Thailand and South Africa.
Dr Nalinee concluded that she and the ambassador discussed promoting cooperation in sectors where each country has expertise, such as the electric vehicle industry, mining, and agriculture.
They also addressed collaboration in tourism and cultural exchanges in various dimensions, including sports, food, and other soft power initiatives. Both sides discussed maritime cooperation and collaboration between Laem Chabang Port and the Port of Cape Town. Additionally, they talked about further market openings, focusing on reducing import tariffs and negotiating a Free Trade Agreement (FTA) with the Southern African Customs Union (SACU), which includes five countries: Botswana, Lesotho, Namibia, Eswatini, and South Africa.
Thailand’s Trade Representative
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