Thai Prime Minister Paetongtarn Shinawatra (left) welcomes Prime Minister Lawrence Wong in Bangkok on Nov 28. - MDDI
SINGAPORE: Singapore and Thailand will expand their cooperation in new areas including food and energy security, the green economy and digital connectivity.
Both countries will also deepen existing cooperation in defence, trade and investment.
Prime Minister Lawrence Wong said Singapore is keen to work with Thailand on carbon credits.
“Thailand itself is stepping up its production of green power, including hydrogen and biofuels, so we can work towards an implementation agreement on carbon credits collaboration, which will open up new opportunities for our companies,” he said.
PM Wong was speaking at a joint press conference with his Thai counterpart Paetongtarn Shinawatra at the Government House in Bangkok on Nov 28.
Singapore has implementation agreements with Papua New Guinea and Ghana, but carbon credits have not been traded yet.
Once an implementation agreement is signed, it paves the way for carbon tax-liable companies in Singapore to buy carbon credits from projects in partner countries to offset up to 5 per cent of their taxable emissions.
PM Paetongtarn said the two countries discussed collaboration on green technologies and investments in renewable energy, which will help both achieve their carbon neutrality and net-zero commitments.
On food security, PM Wong said: “This is also important for Singapore, as we import most of what we consume, and we are continually looking to enhance our food security.”
PM Wong, who is also Finance Minister, was on his introductory visit to the Thai capital at the invitation of Prime Minister Paetongtarn.
In Asean, he has visited Malaysia, Brunei, Indonesia and Laos since becoming Prime Minister in May.
He is the first leader to make an official visit to Thailand since PM Paetongtarn became Thailand’s prime minister in August.
PM Wong said both countries are pioneers in digital finance, with Singapore’s PayNow and Thailand’s PromptPay launching the world’s first linkage of real-time payment systems in 2021.
This allows customers of participating banks in Singapore and Thailand to transfer money across the two countries using just a mobile number.
In May 2023, the Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET) launched the Singapore–Thailand Depository Receipts Linkage, the first exchange-level depository receipts cooperation in Asean.
PM Wong said both countries have much to be optimistic about.
“We are not only strengthening our bilateral ties, but also working together as part of Asean.
“Asean has tremendous potential to be a key centre of economic growth for our region, given our diverse markets, our size and youthful population.”
To maximise Asean’s potential, there is a need to accelerate the integration of the bloc’s economies, PM Wong said.
The two countries’ digital connectivity could be further strengthened, he said, thanking Thailand for its hard work as chair of the Asean digital economy framework agreement, which is expected to deepen the integration of digital economy across Asean.
Another area of potential integration is the region’s power grid.
Under Phase 1 of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) launched in June 2022, Singapore imported up to 100 MW of renewable energy from Lao PDR through Thailand and Malaysia.
“We look forward to Thailand’s support for phase two of this power integration project. This will form the building block for a broader Asean power grid, which can help to strengthen our energy resilience and sustainability,” said PM Wong.
During his one-day visit, PM Wong and his Thai counterpart witnessed the signing of a memorandum of understanding (MoU) between Mr Piyawat Sivaraks, secretary-general of the Office of the Civil Service Commission of the Kingdom of Thailand, and Mr Albert Chua, permanent secretary of the Ministry of Foreign Affairs.
The aim is to provide scholarships for Thai officials to study in selected Masters programmes in Singapore universities.
PM Wong said this agreement builds on a long-standing exchange between both civil services.
He added it would hopefully facilitate more learning and sharing of best practices between officials on both sides, as well as those from Asean and beyond.
PM Paetongtarn said they discussed ways to increase human resource development, something Singapore is “very well known” for, especially educational exchanges for upskilling and reskilling the workforce.
PM Paetongtarn said they hope to see a return of peace and stability in Myanmar, adding that the extended informal consultation among Asean countries in Bangkok in December would be an opportunity to discuss a practical way forward for Asean on this matter.
PM Wong said he looks forward to PM Paetongtarn and her spouse visiting Singapore in 2025, when both nations will mark 60 years of diplomatic ties, and other visits between the leadership of our two countries.
“The 60th anniversary will be a timely occasion for us to showcase the progress we discussed today, whether it’s on food, energy or digital connectivity, and look at new ways in which we can bring more benefits to our people and bring our people even closer together,” he said.
After the press conference, PM Wong attended an official lunch hosted by PM Paetongtarn.
During his toast speech, he said Singapore and Thailand have bilateral links dating back to the 19th century, when King Chulalongkorn made his first overseas visit to Singapore in 1871.
In commemoration of the visit, King Chulalongkorn gifted Singapore a bronze elephant statue, which stands in front of the Old Singapore Parliament house today.
The good ties between both governments are anchored by strong people-to-people links, PM Wong said, noting that Singaporeans and Thais frequently travel, study, work and live in each other’s countries.
Thailand and Singapore consistently feature among each other’s top tourist destinations. In 2023, there were reportedly 1.9 million visitors from Singapore to Thailand, and around 450,000 visitors from Thailand to Singapore.
PM Wong will have an audience with Thai King Maha Vajiralongkorn and Queen Suthida before departing for Singapore on Nov 28.
He was accompanied on this visit to Bangkok by Minister for Foreign Affairs Dr Vivian Balakrishnan and officials from PMO and the Ministry of Foreign Affairs. - The Straits Times/ANN
