France-Thailand Business Forum: Cooperation on Transport & Mobility and BCG, as well as Decarbonisation and Smart City
Thailand and France – a vital European Union member with significant trade and investment potential – have a long relationship. Trade between the two countries has always been strong and France is significant to Thailand’s economy. While the Thai private sector has invested in France, there are currently over 280 French companies doing business in Thailand.
The France-Thailand Business Forum (FTBF) hosted the 3rd France-Thailand Business Forum in collaboration with the Joint Standing Committee on Commerce, Industry and Banking, and MEDEF International, at The Athenee Hotel, Bangkok.
Joining the event were representatives from more than 20 French leading companies in the energy, environment, logistics, infrastructure management, smart city, and sustainability sectors.
The special forum staged presentations on two key topics: “Transport & Mobility and BCG”, and “decarbonisation and Smart City”. In attendance were top government officials, industry leaders, and business personnel from both the French and Thai public sectors.
MEDEF International is a private, non-profit organisation founded in 1989 by MEDEF, the French Business Confederation. It aims to promote trade, technological cooperation and investment, and long-term partnerships, particularly in emerging and developing markets and reconstruction markets.
The French-Thailand Business Forum aimed to strengthen bilateral relations and investment opportunities in both countries' private sectors, which is an important component of the France-Thailand Roadmap 2022-2024 signed by both countries' foreign ministers last April.
"In terms of technology and innovation, French businesses are strong. Thailand has the potential to be an Asean regional hub. The enormous potential of the private sector, combined with the Thai government's stringent policy implementation, will ensure sustained economic growth," said Francoise Corbin, Co-Chairman of the French Business Council and Vice President of MEDEF International.
Corbin added that MEDEF International has more than 7,100 member-companies and executives as CEOs of French multinational corporations. Members have discussed and agreed to strengthen cooperation between the two countries on many issues, which can be divided into the following three areas:
– The six potential manufacturing and service sectors are (1) agriculture and high-value processed agriculture; (2) quality, sustainable tourism; (3) electric vehicle and parts manufacturing; (4) medical and health services; (5) transportation and logistics; (6) smart electronics manufacturing and digital services. Thai industries targeted for French investment have global potential, both in terms of technology and people.
– The Thai government is promoting investment in the circular economy and a low-carbon society. These include the BCG economy and Thailand's transformation into the region's EV production hub, as well as waste-reducing production methods. French companies use technology to recycle industrial, agricultural, and consumer wastes. Potential and interest in Thai government and private BCG business.
– Upgrading vocational courses; producing highly skilled workers and entering the target industries of Thailand and France's investment in Thailand will play an important role in driving the country in the future according to "Thailand 4.0".
Dr Kornkrapan Intarajang, Co-chair of the France -Thailand Business Forum and CEO of PTT Global Chemical Public Company Ltd describes this event as a platform for the promotion of private commerce and investment directions between the two countries. It is a great opportunity for exchanging ideas on innovation and technologies from France which are based on the 5 following key industries: Transport, Smart City, Energy Transition, Food & Agriculture, and Health & Wellness.
The event was attended by various related parties and government agencies, including the French Ambassador to Thailand, The Ministry of Foreign Affairs, the Ministry of Commerce, and officials from the Eastern Economic Corridor (EEC), plus representatives from Thai companies including Thai Union, Sea Value, and Double-A.
Also in attendance were partner organisations seeking investment opportunities in France such as The Mitr Phol Group, Loxley, ThaiBev, WHA Group, Kasikorn, Thai Airways, CP, Empire Asia, and Allied Metals, as well as French businesses that currently have investments in Thailand such as Michelin, said Dr Kornkrapan
At the forum, the two countries talked about how to improve their economic ties by Thailand opening up areas such as innovation and modern technology to French investment. This will help to drive Thailand's circular economy (BCG) policies in areas like agriculture and food, make-up and perfume, health and medicine, and tourism that sustains the environment and health, tyres and smart cars, textiles, and fashion.
France and Thailand are also interested in expanding their transportation business ties. Specifically, connecting Asean countries and China via land, rail, and water routes is an important step toward a more sustainable business model. Two areas of cooperation between Thai and French companies are Transportation & Mobility and BCG and Decarbonisation. As a means of both assisting in the country's industrial transition and adding value, Thailand is actively seeking out the latest innovations, technologies, and knowledge available.
