Bangkok: Mr. Pichai Naripthaphan, Minister of Commerce, revealed that he had discussed with Mr. Ishii Keita, President of the Japan Chamber of Commerce and Industry, and executives of leading Japanese companies, including ITOCHU Cooperation, Kawasaki Heavy Industries (Thailand) Co., Ltd., Sumitomo Corporation Thailand Ltd., Knowledge Creation Technology Co., Ltd., Japan Airlines Co., Ltd., and Toyota Tsusho (Thailand) Co., Ltd., emphasizing that Thailand and Japan have had a long and deep economic and trade relationship. Japan has always been an important trading partner of Thailand and is considered an important trade ally of Thailand. It has accumulated the highest investment in Thailand, accounting for one-fourth of all foreign investment. There are almost 6,000 Japanese companies investing in Thailand after investment from Japan had waned for more than 10 years until an elected government was formed.
According to Thai News Agency, Mr. Pichai invited Japanese investors to invest in businesses as a product
ion base in Japan’s modern industrial supply chain, such as printed circuit boards (PCBs), semiconductor businesses, and digital AI, in which the Thai government is ready to promote investment from Japan, as Thailand has the potential to produce parts using advanced technology.
In addition, Thailand is ready to be a food security hub by being a warehouse and exporting food to all countries that need it, including Japan, in line with the policies of leading Japanese companies that met for discussion today. Executives of leading Japanese companies expressed their readiness to support the Japanese private sector to invest more in these fields in Thailand, including other fields that are in the faculty’s investment expansion plan in Thailand, such as hydrogen, green energy, and service businesses. The Japanese side has expressed its intention to expand investment to return to being a leader in investment in Thailand again.
The Japan Chamber of Commerce and Industry (JCCI) is Japan’s largest economic organizatio
n, comprising 515 local councils and over 1.25 million members worldwide, ranging from large to small and medium-sized companies, accounting for one-third of all companies in Japan. Japan is one of Thailand’s most important trading partners, with the world’s third largest economy and Thailand’s third largest trading partner. In 2023, Thailand and Japan had a trade value of 55,861 million US dollars, divided into exports from Thailand to Japan of 24,670 million US dollars (Thailand’s major exports include automobiles, equipment and components, processed chicken, machinery, and electrical circuits) and imports from Thailand from Japan of 31,191 million US dollars (Thailand’s major imports include machinery, steel, chemicals, and electrical circuits).