Türkiye and Thailand has been enjoying good and friendly relations.
Enhancing economic and commercial relations is a priority item in the
bilateral agenda of both Türkiye and Thailand.
Negotiations for a Free Trade Agreement (FTA) were launched in July 2017.
Seven rounds of negotiations were completed so far and an interim round of
talks were held in December 2021. The negotiations are ongoing.
The third meeting of the Joint Economic Commission (JEC) between Türkiye
and Thailand was held in 2003 in Bangkok. Subsequent JEC meeting is planned
to be held in 2023.
Türkiye-Thailand Business Council was founded on 23 January 2011,
contributing through the several meetings held with its Thai counterpart to
the further development of commercial relations between the two countries.
According to international investment position records of Turkish Central
Bank, cumulative FDI from Thailand to Türkiye amounted to 209 million USD,
while FDI from Türkiye to Thailand amounted to 116 million USD.
The largest Turkish investments in Thailand belong to BEKO, Kordsa,
Hidromek, Hayat Kimya, and Arçelik-Hitachi companies.
Successful SME cooperation between Türkiye and Thailand is mainly carried
out by KOSGEB and its Thai counterpart OSMEP, through an MOU signed in
September 2018.
Turkish Cooperation and Coordination Agency (TİKA) has carried out the
restoration project of Bang Uthit Mosque in Bangkok. The project started in
2014 and was completed in 2015 by TİKA. TIKA continues its contacts and
cooperation with its Thai counterpart TICA as well as its various projects
in Thailand in this context.
2018 was declared as Reciprocal Cultural Year between two countries.
Throughout this year; various cultural exchanges were carried out which
reached large audiences in both countries. The cultural ties and
people-to-to people contacts between the two countries were further
enhanced through these special events.
The number of visitors from Thailand to Türkiye has been increasing
regularly on a yearly basis. While in 2016 the number of Thai citizens
travelling to Türkiye was around 12.000, this number reached nearly 62.000
in 2019, before pandemic.
According to the data of the Ministry of Tourism of Thailand, the number of
Turkish tourists visiting Thailand was around 95.000 in 2018 and 105.000 in
2019. However,in 2020 and 2021, the tourist numbers decreased due to
pandemic.
Economy of Thailand (2021)
|
GDP (billion USD)
|
505,6
|
Inflation Rate (%)
|
1,2
|
|
Real GDP Growth Rate (%)
|
1,6
|
Unemployment Rate (%)
|
1,2
|
|
Population (million)
|
66,1
|
Exports (billion USD)
|
269,59
|
|
Population Growth Rate (%)
|
0,22
|
Imports (billion USD)
|
229,6
|
|
GDP Per Capita (USD)
|
7.255
|
|
|
References: Turkish Embassy in Bangkok
Main Trade Partners:
China, Japan, USA, Malaysia, Korea
Main Export Items:
Machines, data storage units, vehicles, motor vehicle parts, gold, precious
ores/stones, mineral oil, natural rubber, petroleum oils, meat/seafood
Main Import Items:
Petroleum oils, electronic chips, motor vehicle parts, petroleum gas,
automatic data processing machines, precious ores/stones, iron/steel,
plastic items
Bilateral Economic and Commercial Relations:
|
YEARS
|
EXPORT
|
IMPORT
|
VOLUME
|
BALANCE
|
|
2015
|
174,1
|
1.209,7
|
1.383,8
|
-1.035,4
|
|
2016
|
163,8
|
1.482,3
|
1.656,1
|
-1.318,4
|
|
2017
|
165,7
|
1.983,1
|
2.148,8
|
-1.817,4
|
|
2018
|
278,4
|
1.372,4
|
1.650,8
|
-1.093,9
|
|
2019
|
270,4
|
1.140,7
|
1.411,1
|
-870,2
|
|
2020
|
184
|
1.210,6
|
1.394,6
|
-1.026,5
|
|
2021
|
236,2
|
1.644,7
|
1.880,9
|
-1.408,4
|
Reference: TÜİK (million USD)
Main Export Items of Türkiye:
Carbonate, diesel engine parts, sunflower oil, excavators, pipes
Main Import Items of Türkiye:
natural rubber, stables fibers, air conditioner parts, data storage units,
motor vehicles, refrigerators