Thailand seeks GSP renewal, digital investment in talks with US
Commerce minister and US envoy discuss trade tariffs and investment in high-tech industries
Renewal of tariff benefits under the Generalised System of Preferences (GSP) and investment in data centres and cloud services in Thailand were key topics of talks between Commerce Minister Pichai Naripthaphan and US Ambassador to Thailand Robert F Godec on Wednesday.
Both sides also highlighted next month’s trip to Thailand by the US-Asean Business Council as a chance to strengthen economic, trade and investment ties.
Pichai emphasised that Thailand was ready to serve as a manufacturing base in the supply chain for key US industries, including digital, artificial intelligence, electronics, and semiconductor.
The minister said US tech giants HP, Google and Amazon’s interest in investing in data centre and cloud services in Thailand reflected the country’s readiness to become a regional hub for the digital industry.
Pichai also invited US companies to invest in the Thai food industry, citing the country’s strength in food security with high potential for exports to emerging markets.
Meanwhile, he urged the US government to renew GSP tariff privileges for Thai products that have been suspended since 2020, pointing to benefits for businesses in both countries.
Godec commended joint efforts by Thai and US authorities in intellectual property protection, resulting in Thailand finally being removed from the US watch list.
The US was Thailand’s second largest trade partner behind China last year, with total trade volume of US$67.65 billion. Key exports to the US include computer and telephone parts and components, rubber products, fax machines, semiconductors, gems and jewellery, and automotive parts.
Key imports from the US include crude oil, machinery parts and components, chemicals, natural gas, electronic boards, and medical equipment.
