Thailand signs first investment agreement with Taiwan under new administration

Thailand signs first investment agreement with Taiwan under new administration

THAILAND and Taiwan signed the investment promotion and protection agreement following more than two years of talks.

Taiwan’s New Southbound Policy seeks to enhance cooperation and exchange between the self-ruled island and 18 countries in Southeast Asia, South Asia, and Australasia including Thailand.

Previous signatories of the investment agreement with Taiwan included the Philippines, India, Vietnam, and Canada.

Taiwan and Thailand previously signed an investment agreement in 1996 but was no longer up-to-date with today’s trading environment and international investment practices.

The new deal was designed to form a joint committee, improve dispute resolution practices, and provide more transparent investment information between both sides.

The new Thai representative to Taiwan said the Southeast Asian country was open to more Taiwanese investments. Taiwan is known worldwide for its leadership in the semiconductor industry while Thailand hails itself as an electronics manufacturing powerhouse in Southeast Asia.

 

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