Singapore and Thailand praised the strength of their partnership while feting the 60th anniversary of the island state’s independence as well as the 60th year of bilateral ties.
At the ‘SG60 Gala Dinner’, hosted by the Singapore-Thai Chamber of Commerce (STCC) on Thursday night, business and diplomatic leaders from both sides stressed how their relationship was based on a solid foundation.
‘Indeed, our relationship is one of enduring friendship and a model of regional cooperation,’ said Singapore’s Robin Loh, STCC chairman.
The STCC has long been supporting investors and entrepreneurs in fostering collaborations under the mission of promoting growth through integrity, inclusivity, and respect, he said.
For example, United Overseas Bank (UOB), a leading Singaporean bank that first established its presence in Thailand in 1999, had been a major contributor to the Thai economy by assisting businesses of both nations to navigate various opportunities, Mr Loh noted.
He explained that through its foreign direct investment advisory and regional network, UOB has channeled over 50 billion baht in investments and supported more than 300 enterprises in high-tech, EV, renewable, and other advanced sectors aligned with Thailand’s priority industries.
Ambassador to Thailand Catherine Wong said the theme of this commemorative year is ‘Singapore-Thailand: Realising Opportunities for New Growth’ or ‘Strong at 60′ which reflects their complementary strength while calling for a future-oriented partnership.
Ms Wong said the relationship has only strengthened over time with Singapore Prime Minister Lawrence Wong paying an official visit in November 2024, just a few month after he took office.
Bilateral trade has now hit US$44.5 billion (1.44 trillion baht), up 6.4% year-on-year.
They have also pioneered the world’s first real-time digital payment link between Singapore’s PayNow and Thailand’s Promptpay to promote cross-border e-commerce.
Comprising over 250 members from various sectors, the STCC has played an important role in promoting opportunities in both markets, broadened members’ networks, and kept businesses abreast of key regulatory and industry developments, Ms Wong said.
“As we look ahead to the next 60 years and beyond of Singapore-Thailand relations, let us continue to work with partners to deliver outcomes that benefit our peoples,,” she added.
Sasirit Tangulrat, deputy permanent secretary of the Thai Foreign Affairs Ministry, highlighted their close cooperation in a number of fields.
Singapore has consistently been one of Thailand’s top trading partners in terms of trade volume and is among the largest sources of foreign direct investment.
‘As we embrace the future, Thailand and Singapore are well positioned to realise new opportunities for growth in various areas, especially green technologies, digital trade, and innovation ecosystem, as trusted partners and as fellow members of our Asean family,’ she said.