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Thailand and Indonesia pledged to boost trade and investment and cooperate on cyber scam and drug trafficking crackdowns, as Southeast Asia’s two biggest economies elevated ties to a strategic partnership.
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Thailand will host the two countries’ first joint trade committee meeting later this year to explore ways to strengthen economic cooperation, Prime Minister Paetongtarn Shinawatra said during a joint news conference in Bangkok on Monday alongside Indonesian President Prabowo Subianto.
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Both countries will explore possible deals through their respective investment institutions, including Indonesia’s newly established wealth fund Danantara, Prabowo said. Indonesia will also open up opportunities for Thai companies to invest in its energy sector and potentially form joint ventures in food management and storage, he said.
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Thailand and Indonesia, which have a total trade worth $18 billion, will work to strengthen the 10-member Association of Southeast Asian Nations and push for more economic integration within the bloc to unite against the backdrop of global geopolitical and economic uncertainties, the Thai leader said. The two countries will also work with Malaysia, which is this year’s Asean chair, to bring peace to civil war-torn Myanmar.
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Paetongtarn and Prabowo, who was in Bangkok for his first official visit, also said the two countries will cooperate on the defense industry and military exercises, and increase maritime and law enforcement collaboration.
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The two leaders welcomed new flight routes connecting more Thai and Indonesian cities, including Bangkok-Surabaya and Bangkok-Medan. They also pledged to exchange official visits more frequently in the future.
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