THAI Prime Minister Srettha Thavisin‘s recent trip to Singapore marked his second diplomatic visit abroad after Cambodia since he was elected as the new Prime Minister in August.
Thavisin visited Singapore on Thursday at the invitation of Prime Minister Lee Hsien Loong, In April 2021, Thailand’s Prompt Pay and Singapore’s Pay Now partnered under a cross-border fast payment system that enables users on both sides to transfer money using their mobile numbers.
This form of payment system is said to be the first of its kind in the world.
Singapore also welcomed Thailand’s interest in joining the Digital Economy Partnership Agreement which will enable further growth opportunities for Thai businesses.
Both countries are part of the Laos-Thailand-Malaysia-Singapore Power Integration Project.
The initiative allows Singapore to import renewable energy from Laos through Thailand and Malaysia since June 2022.
The Singaporean Prime Minister said he is looking forward to strengthen energy collaboration with Thailand, which will unlock the potential for cross-border renewable energy trade in the Asean.
Singapore is Thailand’s second-highest source of foreign direct investment in the first half of 2023.
As one of the top 10 largest trading partners in Southeast Asia, bilateral trade between the two nations reached $42.1-B last year.
