On 21-23 November 2012, Mr. Refik Gokcek, Chairman of the Turkey-Thailand Business Council (TTBC), together with 19 TTBC members visited Thailand to meet Thai Vice Foreign Minister, Deputy Commerce Minister and its Thailand-Turkey Business Council counterparts. H.E. Mr. Rathakit Manathat, Ambassador of Thailand to Turkey also accompanied the delegation to provide support and to push forward Thailand-Turkey business relations.

Despite a short trip, the trip was concluded with success. During the meeting with H.E. Mr. Jullapong Nonsrichai, Vice Foreign Minister of Thailand, H.E. Mr. Nattawut Saikuar, Deputy Minister of Commerce, and its Thai Business Council counterpart in separate meeting, all sides agreed that Thailand and Turkey are of each other’s importance as its respective regional hub. Thailand would be the bridge for Turkey to reach other ASEAN nations, while Turkey, on the other hand, will be Thailand’s hub to the Middle East, North Africa and Central Asia.

H.E. Mr. Nonsrichai thanked the delegation for visiting Thailand and was glad to meet them once again after his visit in Istanbul in August this year. He reiterated that the TTBC visit was at a good timing when the Thai political situation is stabilized and the Government was democratically elected. He welcomed the cordial relations with Turkey and expressed the Government’s commitment to promote trade and investment between the two countries.

However, both sides noted that the ongoing economic activities between the two countries are still far under their real potential since both are fast-growing economies. Therefore, it was agreed that more high level visits should be realized in the nearest future in attempt to pave the ways for the business sectors. Thailand and Turkey also welcomed the enforcement of Turkey’s visa free for the Thai citizens, believing it will help mutually boost tourism.

Thailand proposed to cooperate more closely with Turkey to boost trade and tourism cooperation. Increase in rubber export to Turkey could be a key trade potential as Thailand runs the world’s top producer and exporter.  

During the Business Council Joint Meeting, Thai entrepreneurs urged its Turkish counterparts to look into anti-dumping measures on various Thai products, including synthetic fiber, as it immediately suspends trade activities. Mr. Gokcek, TTBC Chairman, responded positively to work with local entrepreneurs to find solutions on this issue.

On the other hand, as Thailand is centrally located in the Southeast Asian region, Turkish businessmen proposed Thailand to open an FTA negotiation with Turkey. Turkey believes that FTA will benefit trade between Turkey and Thailand as well as other countries in the ASEAN region. As Thailand undertakes liberal trade policy and already approved to open an FTA negotiation with the EU, the Commerce Deputy Minister said he would consider this issue positively.

The purpose of the TTBC delegation to Thailand was to have the 2^nd Joint Meeting between the Thailand-Turkey Business Council and the Turkey-Thailand Business Council. The first meeting was held in September 2011 in Istanbul, right after when the two Business Councils signed a Memorandum of Understanding to establish the Joint Business Councils, aimed at promoting Thai-Turkish business interaction.

At present, trade between Thailand and Turkey ranked third among the ASEAN nations after Indonesia and Singapore with the value of 1.25 billion USD last year. Yet, during the visit, the delegation agreed that there is huge untapped potential. Potential areas include constructions, cement, petrochemical products, rubber products. Thai SMEs also eye Turkey’s fast growing spa sector and shipbuilding industry, which Turkey is the world’s 4^th largest.

Turkey is the 17^th largest economy of the world while Thailand is the 2^nd largest ASEAN economy. Turkish business sector is actively searching for a new trade partners. The attending Turkish business people already showed keen interest to do business in Thailand, laying strong foundation for future business relations.

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Wichulee Chotbenjakul

Second Secretary

Royal Thai Embassy, Ankara