Bangkok: Mr. Chantavit Tanthasit, Deputy Minister of Commerce, engaged in discussions with Mr. Robert F. Godec, U.S. Ambassador to Thailand, in a bid to enhance cooperation and expedite trade negotiations aimed at adjusting the trade balance. The discussions, held at the Ministry of Commerce, marked a significant step towards reducing impacts and increasing the value of Thai local content.

According to Thai News Agency, the meeting was designed to fortify economic and trade relations between Thailand and the United States, focusing on rapidly concluding trade balance negotiations for mutual benefit. The Ministry of Commerce has prepared comprehensive data, including international trade statistics and impact analyses, to support decision-making and minimize domestic economic impacts.

Mr. Chantavit highlighted the importance of exchanging policies amidst a dynamic global trade environment. He emphasized Thailand’s commitment to maintaining mutual interests and advancing negotiations quickly, particularly concerning retaliatory tariffs. The Ministry has also engaged with private sectors to ensure transparent export criteria and align domestic production with Regional Value Content standards to benefit Thai exporters.

The Thai delegation also sought the U.S. Ambassador’s assistance in providing insights on U.S. interests, which will aid in formulating future measures and joint action plans to strengthen long-term economic, trade, and investment cooperation.

The U.S. Ambassador expressed confidence in the strong Thailand-U.S. relationship, recognizing Thailand as a strategic ally and affirming the U.S. commitment to fostering constructive cooperation to advance trade negotiations.

In 2024, the United States emerged as Thailand’s second-largest trading partner, with a trade value of 74,484.81 million US dollars. The U.S. is Thailand’s top export market, with significant exports including computers, telecommunications devices, rubber products, and machinery. Conversely, the U.S. ranks as Thailand’s fourth-largest import source, supplying crude oil, machinery, chemicals, and aviation equipment.

Mr. Chantawich reaffirmed the Ministry’s dedication to collaborating with the U.S. to achieve mutually beneficial agreements, reduce trade barriers, and promote sustainable economic growth for both nations.