Reported 12 months ago
On July 2, 2024, Taiwan and Thailand signed the 'Investment Promotion and Protection Agreement' after over two years of negotiations. This milestone agreement, signed by representatives from the respective economic and trade offices, aims to enhance bilateral economic and trade relations. The agreement includes provisions for transparent investment information, designated service windows, government assistance in handling investment disputes, establishment of a joint investment committee, and protection of third-party investments. Trade between Taiwan and Thailand has seen significant growth since the implementation of Taiwan's New Southbound Policy in 2016, with bilateral trade increasing by 74.6% and bilateral investments rising by 119.8% from 2016 to 2023, reflecting Thailand's importance as a key economic partner in the ASEAN region.
Source: YAHOO