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 127,23 million USD.

In 2023 trade turnover between Ukraine and Thailand amounted to 246 million USD (export – 39 million USD, import – 207 million USD). The negative trade balance reached 168 million USD.

In 2023, import included: cars, motorcycles and other vehicles; sea animals; fish products; electronic integrated systems; automatic information processing machines and blocks; tires; household appliances; jewellery, etc.

Ukraine’s export mainly consisted of wheat, inulin, dried vegetables, sunflower oil, soybeans.

During the period from January till April 2024 bilateral trade turnover reached 92,2 million USD (export – 16,3 million USD, import – 75,9 million USD) with a negative trade balance of 59,6 million USD.

Trade between Ukraine and the Kingdom of Thailand in 2018 – 2024 (mln. USD)

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.