ASEAN Summit: Thailand Sees Big Opportunities In ASEAN’s Push For Trade, Digital Growth - Analyst
By Anas Abu Hassan
KUALA LUMPUR, Oct 24 (Bernama) -- The upcoming 47th ASEAN Summit is likely to see strong emphasis on enhancing trade within the regional bloc, strengthening digital partnerships, and advancing efforts towards greener and more sustainable economies.
Director of the Institute of East Asian Studies at Thammasat University, Thailand, Assoc. Prof. Dr Chaiwat Meesanthan, said the summit presents an opportunity for member states such as Thailand to bolster regional trade relations, opening up to more possible investments.
"Big chances for nations like Thailand! Reducing trade impediments is also on the agendas and smaller businesses will have an easier time reaping the benefits of e-commerce spread across this region," he told Bernama.
According to Meesanthan, Malaysia has been performing well as ASEAN Chairman this year, with the theme "Inclusivity and Sustainability" reflecting current global circumstances and efforts to promote harmonious growth and unity of the bloc.
"While the task list is still overflowing with many items, a preponderance of stability exists in Malaysia's helm; a blend of equilibrium and predictability, with intentions gazing towards the future," he added.
Malaysia will be hosting the 47th ASEAN Summit and Related Summits from Oct 26 to 28, at a time when the global economy is under mounting pressure from US tariff measures and ongoing geopolitical uncertainties.
Thailand's gross domestic product (GDP) increased by 2.8 per cent in the second quarter (2Q) 2025, down from 3.2 per cent growth registered in 1Q, according to the Thailand Office of the National Economic and Social Development Council.
The decline was attributable to a slowdown in the non-agriculture sector, especially for tourism-related activities in the service sector, while the agriculture sector expanded continually.
For the first eight months of 2025, Thai trade accounted for US$448.06 billion with exports rising 13.3 per cent to US$223.17 billion and imports up 11.3 per cent to US$224.88 billion, resulting in a trade deficit of US$1.70 billion.
According to the Thai Trade Policy and Strategy Office, the export outlook for the remainder of 2025 is expected to stay positive.
"Concerns over the impact of US retaliatory tariffs have eased following successful trade negotiations and agreements between the United States and several countries and regions, which resulted in reduced tariff rates from the initially announced levels," it said.
From January to August 2025, Malaysia-Thailand trade was valued at US$18.64 billion. Both countries have set a target to raise total bilateral trade to US$30 billion by 2027.
In 2024, Thailand ranked as Malaysia’s seventh-largest trading partner globally and third-largest within ASEAN, with total trade amounting to US$25.03 billion (RM114.56 billion).
-- BERNAMA
