Thailand declared a target country for 2006 – 2007

The ministry of industry & trade and Israel Export and International Cooperation Institute (IEICI) decided last week to add Thailand to the list of target countries for the years 2006 and 2007.
 
Following the decision it is now expected that bilateral trade between the two countries will increase.
 
On Friday 16 December 2005 Mr. Ehud Olmert, Vice Prime Minister, Minister of Finance, Minister of Industry, Trade and Labour meets with Dr. Kantathi Suphamongkhon, on the occasion of his visit to Thailand to preside over the meeting of the Israeli officials responsible for industry, trade and labor in Asia.
 
Olmert also met the ministers of agriculture, finance and environment who outlined the 7 mega infrastructure, $59 billion, projects announced by the Thai government. Olmert was informed that The Thai Prime Minister was focusing resources on the development of several key sectors, which he believes represent “global riches” in which Thailand will be an international leader.
 
These areas are food/agribusiness, tourism, auto-motive, fashion/design and software. Israeli firms engaged in these sectors will find opportunities for success.The Royal Thai Government has also announced that it will invest significant amounts into new infrastructure projects over the next few years, including mass transport, water, satellite communities around Bangkok, power plants and information technology.
 
Bilateral trade between the two countries is expanding. During the first nine months of 2005 bilateral trade reached the $613 millions mark. Israeli export, consisting mainly of polished diamonds, machinery, mechanical equipment and chemicals, was up by 3% to $264 millions and import was up 5%, $349 millions.