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Commerce Minister Suphajee Suthumpun is seeking to increase trade and investment cooperation between Thailand and Singapore, especially regarding rice exports.

Ms Suphajee said the matter was discussed with Singaporean Minister for Trade and Industry Gan Kim Yong via video conference on Wednesday.

The conversation covered expanding trade, investment and the regional digital economy, she said, adding it also concluded a rice trading agreement.

Ms Suphajee said she was also seeking to conclude the Asean Digital Economy Framework Agreement (DEFA), which would support the region's digital economy.

She said the meeting was also held to emphasise Thailand's readiness in strengthening cooperation with Singapore.

Thailand has the potential to export quality agricultural products not just to meet demands in Singapore but also expand to other markets around the world, she added.

Both countries have concluded a rice trade agreement, a major step for Thailand's rice export and food security for both Thailand and Singapore, she said.

Tangible results from the deal are expected to be seen as soon as next month, Ms Suphajee said.

Regarding the DEFA, she said Thailand, as chair of the negotiation, had asked for Singapore's support for the implementation of the framework.

DEFA is one of Asean's major economic agendas this year, said Ms Suphajee, adding it will create a digital connection within Asean, supporting seamless cross-border and paperless trade. It will also increase Thailand's and Asean's trade competitiveness and be a tool for the business sector to pursue digital trade, she noted.

According to the ministry, the trade value between Thailand and Singapore rose to UScopy7.7 billion in 2024. Thailand exported copy0.36 billion worth of goods to Singapore, and it imported $7.40 billion, resulting in a surplus of $2.97 billion, it said.

During the first eight months of 2025, the total trade value had reached copy2.14 billion, up 6.25% year-on-year, the ministry said. Thai exports meanwhile rose 12.57% to $7.21 billion, while imports from Singapore decreased 1.81% to $4.92 billion, it added.

Source : bangkokpost