Thailand emphasises its goal to double trade value with South Korea

BANGKOK, April 13 (TNA) -- The new South Korean ambassador to Bangkok met the Thai commerce minister and discussed a plan to double the bilateral trade within five years. After meeting ambassador Noh Kwang-il, Commerce Minister Apiradi Tantraporn said on Wednesday that they discussed many topics that could realize the goal to double the value of bilateral trade to US$22 billion within 2021. She asked South Korea to import frozen fresh chicken and Mahachanok mangoes from Thailand while the ambassador sought support for South Korean steel and the Asia-Europe Meeting that South Korea plans to host next year. Ms Apiradi said she also invited South Korea to use Thailand as a base for its products and services and its gateway to Southeast Asia and the Greater Mekong Subregion. She also asked South Korea to invest in 10 industrial clusters in Thailand, especially in the industries at which South Korea is outstanding including information technology, renewable energy, foods and restaurants. Last year South Korea was the 11th biggest trade partner of Thailand and Thailand was the 6th biggest trade partner of South Korea in Southeast Asia. In the past five year, the average value of their bilateral trade stood at US$13 billion. The figure was US$11 billion last year and the value of trade with South Korea formed 2.67% of the overall trade value of Thailand. Thailand posted a trade deficit of US$2.93 billion with South Korea. Thailand mainly exports electronic circuits, Para rubber, chemical products, plastic pellets and sugar to South Korea and import steel, chemical products, machinery and machine parts from South Korea. (TNA)