Australia is taking steps to enhance its collaboration with Thailand through four key strategies, aiming for sustained engagement despite political shifts within the Thai government. This partnership presents significant opportunities to boost expertise across various sectors and strengthen bilateral trade.
Since the general election last year, which resulted in changes in Thai leadership, Australia’s Special Envoy for Southeast Asia, Nicholas Moore, has emphasized that the focus remains on long-term cooperation between the two nations, even amid short-term political instability. He stated, “The strategy that Prime Minister Anthony Albanese emphasizes is a long-term plan towards 2040. While there may be short-term hiccups, the outlook for Thailand and the region’s growth through cooperation with Australia is promising.”
In light of the complex political and economic dynamics in Southeast Asia, Australia is strategically enhancing its influence in the region by pursuing business opportunities, particularly in trade and investment. Angela Macdonald, the Australian Ambassador to Thailand, noted the influx of opportunities for Australian businesses since her appointment, highlighting proactive responses from Thailand’s Board of Investment and the Eastern Economic Corridor office to address concerns raised by Australian firms.
The Special Envoy also pointed out that, despite the growing influence of China through its Belt and Road Initiative, Australia has maintained strong, long-term trading partnerships with Southeast Asian nations. He emphasized the importance of mutual understanding regarding business opportunities, stating that significant trade volumes between Australia and Thailand can be further enhanced.
Moore underscored the value of tailoring solutions to individual markets in Southeast Asia, given the region’s diverse cultures and regulatory environments. His report on Australia’s Southeast Asia economic strategy to 2040 advocates for regular visits by Australian business leaders to the region and highlights the benefits of having local experts to navigate market complexities.
With goods worth US$20 billion exported from Thailand to Australia annually, Moore mentioned plans to eliminate all tariffs between the two countries by 2025, with the Australia-Thailand Free Trade Agreement already alleviating some barriers over nearly two decades.
In efforts to foster bilateral trade, the Special Envoy aims to increase Thai exports to Australia to US$30 billion in the future. He noted that enhancing people-to-people connections and educational exchanges will play a crucial role in raising awareness of these opportunities. Currently, around 80,000 Thais reside in Australia, with more than 40,000 Thai students enrolled in Australian educational institutions.
Furthermore, Australia is prepared to assist Thailand in addressing climate change issues, particularly in water management. Ambassador Macdonald highlighted collaborative efforts with Thailand on projects aimed at improving climate resilience, such as transforming the waste management facility at On-nut into an urban parkland, involving expertise from Monash University.
In contrast, the situation in Myanmar remains a concern, with Ambassador Macdonald indicating that ongoing violence and conflict have overshadowed the country’s business potential. Despite these challenges, Australia is committed to supporting ASEAN’s leadership role and collaborating with Thailand on long-term solutions aimed at reducing violence and fostering change within Myanmar.
Moore and Macdonald met with Australian and Thai business leaders last week to reinforce this commitment to cooperation, demonstrating Australia’s dedication to building a mutually beneficial partnership with Thailand amid regional challenges.
