In a landmark meeting in Bangkok on Thursday, Prime Minister Narendra Modi and his Thai counterpart Paetongtarn Shinawatra agreed to elevate India-Thailand relations to a Strategic Partnership, signaling a deepening of bilateral cooperation across multiple sectors.
The leaders also witnessed the signing of key Memorandums of Understanding (MoUs) aimed at strengthening ties in defence, security, trade, innovation, and sustainability.
A major highlight of the meeting was the commitment to expand defence cooperation.
The two leaders agreed to enhance collaboration in defence technology, research, industry, training, and capacity building.
They also supported the idea of regular joint exercises and exchanges between security agencies.
To address modern security challenges, India and Thailand will initiate strategic-level dialogues focusing on cybercrime, terrorism, and transnational threats such as money laundering and human trafficking.
India and Thailand expressed intent to boost sustainable bilateral trade, which stood at approximately USD 15 billion in 2023–24.
The Strategic Partnership outlines cooperation in trade facilitation, removal of market access barriers, and harmonization of standards.
Special emphasis was placed on future-oriented industries such as electric vehicles, digital technology, space innovation, biotechnology, and food processing.
The two sides also agreed to promote trade under existing frameworks like the ASEAN-India Trade in Goods Agreement (AITIGA) and to explore local currency-based settlement mechanisms to enhance trade fluidity.
Both leaders committed to finalizing the AITIGA review by 2025.
Recognizing the importance of entrepreneurship, both nations will organize annual India-Thailand Joint Business Forum (ITJBF) meetings.
They also pledged support for SMEs and startups with initiatives like mentorship programs, investor matchmaking, innovation challenges, and cross-incubation between academic and industrial institutions.
India and Thailand will promote closer collaboration between their investment promotion agencies, including Invest India and Thailand’s Board of Investment, with a focus on SEZs and Industrial Corridors.
They also aim to enhance connectivity between financial service providers to facilitate smoother trade, investments, and cross-border payments.
The leaders affirmed joint efforts toward climate action through cooperation in renewable energy, energy efficiency, and the adoption of the Bio-Circular-Green (BCG) Economy model.
These initiatives support both nations’ goals in climate mitigation and sustainable development.
The newly established Strategic Partnership between India and Thailand will serve as a robust foundation for deeper cooperation in the Indo-Pacific region.
With a shared vision of innovation, economic prosperity, and regional stability, the partnership is poised to deliver lasting benefits to both nations and their people.
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