Thailand and Pakistan have agreed to resume discussions under their Joint Trade Committee (JTC) at the ministerial level, marking the end of a ten-year hiatus. The decision follows talks between Thailand’s Minister of Commerce, Pichai Naripthaphan, and Pakistan’s Ambassador to Thailand, Rukhsana Afzaal, aimed at enhancing bilateral trade and economic cooperation. Scheduled for late 2025, the 4th JTC meeting will focus on advancing negotiations for a Free Trade Agreement (FTA) and bolstering partnerships in sectors such as food, textiles, jewelry, fisheries, and tourism.
Pakistan’s population of over 240 million, including 80 million working-age individuals, offers significant potential for economic collaboration. Its abundant natural resources, such as seafood, gemstones, and minerals, align with Thailand’s industrial needs, particularly in manufacturing. Conversely, Thai exports, including synthetic fibers, chemicals, and automotive parts, play a vital role in Pakistan’s production sectors. As part of the renewed commitment, Thailand will participate in the My Karachi Oasis of Harmony Exhibition later this year, showcasing opportunities to deepen trade ties.
Investment remains a pivotal aspect of the renewed dialogue. Pakistan’s Special Investment Facilitation Council is actively seeking foreign investors for agriculture, IT, renewable energy, mining, and tourism. In return, Thailand has invited Pakistan to explore its burgeoning data center sector, emphasizing the infrastructure and resource advantages it offers. Between January and November 2024, bilateral trade reached $1.031 billion, with Thai exports accounting for $781.36 million and imports from Pakistan totaling $250.40 million in goods like seafood, crude oil, and textiles.
This revival of JTC talks underscores a shared determination to strengthen economic ties. With Pakistan’s expansive market and Thailand’s industrial expertise, the partnership holds the promise of sustained growth and collaboration in the coming years.