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Trade and economic relations between Ukraine and the Kingdom of Thailand
18 February 2013 16:33

Taking into account the Thailand's huge nominal GDP, local income growth and a stable socio-economic situation in the country, Thailand remains the key partner of Ukraine among the countries of the region of Southeast Asia.

According to the data of the State Customs Service of Ukraine, in 2022 trade turnover between Ukraine and Thailand reached 197,671 million USD (export – 35,22 million USD, import – 162,451 million USD) with a negative trade balance of 127,231 million USD.

In 2023 trade turnover between Ukraine and Thailand amounted to 246,208 million USD (export – 39,174 million USD, import – 207,034 million USD). The negative trade balance reached  167,9 million USD.

Trade between Ukraine and the Kingdom of Thailand in 2017 – 2023 (mln. USD)


2017

2018

2019

2020

2021

2022

2023

Trade turnover

463,469

456,668

572,083

358,628

477,391

197,671

246,208

Export

265,194

248,067

344,131

164,537

224,886

35,22

39,174

Import

201,465

208,601

227,952

194,09

252,505

162,451

207,034

Trade balance

+63,729

+39,466

+116,179

-29,552

-27,619

-127,23

-167,9


The Ukrainian Side pays particular attention to the issue of diversification of foreign trade and involvement of foreign investments in new areas of cooperation, as well as the participation in the perspective projects, proposed by the Government of Thailand.

In recent years the cooperation between the chambers of commerce of Ukraine and Thailand has been actively developing. On 20 July 2021 a joint meeting of the leadership of the Chamber of Commerce and Industry of Ukraine and the Thai Chamber of Commerce – Board of Trade of Thailand was held. During the meeting the parties discussed the possibility of arranging a business forum with participation of the business circles of both countries, the organization of thematic bilateral meetings that would cover issues of development of inter-branch contacts, attraction of investments, taxation, etc.  

Also, in order to support Ukrainian business activities in Thailand, the Chamber of Commerce and Industry of Ukraine in September 2021 appointed its representative in the Kingdom of Thailand.

On 16 December 2021 Memorandum of Understanding between the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine and the Board of Trade of Thailand was signed aiming at creation of further favorable conditions for bilateral trade.

In order to boost bilateral trade and economic cooperation, primary attention of the parties is given to the issue of holding the inaugural meeting of the Joint Trade Commission between the Government of Ukraine and the Government of the Kingdom of Thailand. This matter was discussed during the meeting between Mr. Pavlo Orel, Chargé d'Affaires at the Embassy of Ukraine in the Kingdom of Thailand and Ms. Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations of the Ministry of Commerce of Thailand on 6 December 2023.

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