(MENAFN- The Peninsula) Joelyn Baluyut |
The Peninsula
Doha, Qatar: The trade relations between Qatar and Thailand has witnessed significant expansion, with trade volume soaring to $4.8bn in the past year, surpassing 2021's $3.6bn, according to Ambassador of the Kingdom of Thailand to Qatar, H E Sira Swangsilpa.
The Ambassador said during a recent media interview that the growth represents a substantial increase of 32.8%, compared to the trade volume in 2021.
Ambassador Swangsilpa highlighted Qatar's primary export to Thailand as liquefied natural gas (LNG).
Assuming office less than three months ago, he emphasised the close energy security cooperation between Qatar and Thailand, stating,“we are really secured.”
Breaking down the $4.8bn trade volume, exports from Thailand to Qatar accounted for $413.04m, while imports from Qatar amounted to $4.4bn.
A recent report from Reuters revealed that Thailand's largest energy conglomerate, the state-controlled PTT (PTT.BK), is currently engaged in advanced negotiations with Qatar for a 15-year liquefied natural gas (LNG) supply agreement.
Thailand's 2022 exports to Qatar included a diverse range of products. Ambassador Swangsilpa outlined the main export categories, which encompassed automotive and air conditioning products as well as electrical equipment.
Detailed data provided by the Thailand Embassy in Qatar offers a comprehensive breakdown of these exports. Notably, motor cars, parts, and accessories constituted the highest export value at $127.18m, followed by precistones and jewellery at $77.55m.
Additionally, air conditioning machines and parts contributed $37.51m, while woods and wood products reached $13.31m. Machinery and parts added $13.04m to the total, with rubber products contributing $11.44m.
Other industrial products accounted for $10.27m, among other items.
Thailand's export portfolio to Qatar also encompassed fish, both fresh and preserved, along with crustaceans and mollusks.
Additionally, fresh, frozen, and dried fruits, other vehicles and their parts, iron and steel products, beauty and makeup preparations, soap, refrigerators, and related components were part of the export mix.
Meanwhile, trade data for the first half of 2023, spanning from January to July, precistones and jewellery led the export chart with a value of $57.16m.
Motor cars, parts, and accessories followed closely at $36.11m, while air conditioning machines and parts contributed $17.78m. Rubber products and wood products generated $7.72m and $6.68m, respectively, during this period.
The cumulative export volume for these initial six months amounted to $186.08m.
Moreover, Ambassador Swangsilpa revealed that among his priorities is to foster collaboration with the people and organisations in Qatar.
“I intend to expand cooperation with Qatar based on Qatar National Vision 20230 especially in food security.”
Thailand is known for its abundant agricultural products, including rice and poultry, which according to the envoy can contribute significantly to global food security.
The envoy expressed his strong commitment to strengthening initiatives aimed at fortifying food security within Qatar, particularly in the context of Qatar's own vision for food security spanning from 2024 to 2030.
He affirmed the proactive stance in the coming six years, assuring that they will actively seek opportunities for coordination and collaboration with Qatar in this pivotal domain.“In the next six years, we will explore to coordinate and cooperate with Qatar,” he stated.