Italy and Thailand Strengthen Business Ties at Bilateral Forum

05 Jul, 2024

Italy and Thailand Strengthen Business Ties at Bilateral Forum

The Italian-Thai Business Forum (ITBF) took place in Florence, Italy, for the ninth consecutive year, organized by the Thai Chamber of Commerce, Thai Board of Trade, and the Italian Embassy in Bangkok. Business leaders from 13 Italian and 16 Thai companies attended the forum. ITBF is part of a continuous effort to strengthen economic ties between the two nations, which share 156 years of diplomatic relations. In 2023, their trading volume reached US$5.06 billion, over 190 billion baht, highlighting the growth of their economic cooperation. Prime Minister Srettha Thavisin's official visit to Italy in May included discussions with Italian Prime Minister Giorgia Meloni to enhance trade and investment collaboration. Mrs. Meloni is scheduled to visit Thailand in February 2025.

The forum was attended by Thai ambassador H.E. Puttaporn Ewtoksan and Italian ambassador H.E. Paolo Dionisi. Busaba Chirathivat, co-chair of ITBF and advisor to Central Group, emphasized that the forum provides a platform for executives from both countries to showcase their strengths and potential, fostering stronger partnerships to advance target industries. Italy is Thailand's third EU partner and 24th commercial partner. The forum aims to facilitate investment and trade, deepening collaboration in a practical way. Thawatchai Setthachinda, vice-president of the Thai Chamber, highlighted the importance of Unioncamere, the Italian Union of Chambers of Commerce, in supporting SMEs, particularly in food, fashion, and lifestyle sectors. The forum's success over the past nine years demonstrates the commitment of both nations to expanding trade and investment cooperation.