The U.S. ambassador to Thailand Eric G. John foresees a bright outlook for closer Thai-U.S. relations, especially in the area of bilateral trade and investment ; The United States is Thailand’s largest customer in the world, with U.S.-Thai bilateral trade reaching over $32 billion. Last week, Ambassador John talked about business and economic growth with five Chiang Mai journalists, including the Chiang Mai Mail.
He started the meeting expressing his pleasure to meet and talk with local reporters and wanted to introduce the most significant issues on economic and business cooperation between Thai and U.S. government organizations.
“During the past 40 years, we have seen growth of bilateral trade cooperation between the two countries so that it is now worth around 1 billion US dollars, the increased growth signifies a new age in Thai-US relations,” he said.
The U.S. is also second-largest investor in Thailand and has now surpassed $23 billion in exports.”With more on the way . Investment by the private sector has proven to be much more than the government to government sectors”, he noted. However, he added that growing relations between the governments was of equal importance to the U.S.
He continued, noting that U.S. business and investment projects in Thailand have resulted employing around 250,000 people nationwide.
“The volume of exports from Thailand to US is worth around $23 billion, which is a large amount and a big step to bring great benefits for businesses in both countries”, Ambassador John added.
Ambassador John said that bilateral trade will also help stimulate growth of the economy, by way of giving more opportunities for export growth and by opening up trade potential and opportunities, adding the importance of a continued, strong relationship between Thailand and the U.S.
The Ambassador said one of his goals is to increase the U.S. presence in the North, adding that more bilateral trade as well as U.S. investment projects should be increased in the Northern region.
Currently there are not many U.S. projects in Chiang Mai. ” There is less investment activity by U.S. firms in the North when compared to the Central and Eastern regions. Chonburi , Pattaya and Rayong have a much larger number of U.S investment projects.
“However, many of you may have heard about the arrival of U.S. companies, with Monsanto in Phitsanulok, Frito Lay in Lamphun, and Creative Kingdom in Chiang Mai”. Monsanto in Phitsanulok employs 500 workers and involves 10,000 Thai farmers in producing high-yield hybrid corn seeds for sale in Thailand and markets as far away as South America. While, Pepsi/Frito Lay produces snack foods in Lamphun, employing over 1,000 workers and involving 2,000 farmer households in production The U.S. IT firm, Creative Kingdom Inc., employs 300 young Thais in digital animation and video game design.
To be continued in Part 2
with thanks to : CM-MAIL
