Commerce Under Secretary Celebrates 175 Years of U.S.-Thai Trade Relations

For Immediate Release: April 28, 2008
Contact: Matt Englehart (202) 482-3809

COMMERCE UNDER SECRETARY CELEBRATES 175 YEARS OF U.S.-THAI TRADE RELATIONS

Washington – Today, U.S. Commerce Under Secretary for International Trade Christopher A. Padilla praised 175 years of bilateral trade relations between the United States and Thailand at the U.S.-ASEAN Business Conference in Bangkok, Thailand. During that time, the U.S. and Thailand have grown their relationship economically and diplomatically, as well as working closely on joint security issues.

“The United States and Thailand have a long history of successful economic and bilateral trade relations,” said Padilla. “Thailand has openly embraced the global economy and stands as a remarkable example for nations around the world that are setting down a path of development, prosperity and reform. U.S. companies rightfully recognize Thailand as one of the most dynamic and important markets in the region.”

Padilla’s visit coincided with a trade mission hosted by the U.S.-ASEAN Business Council. Padilla met with mission participants and several key Thai Cabinet Ministers from the newly-elected government to discuss ways to accelerate economic cooperation and to strengthen trade and investment ties.

“Investors around the world are eager to hear about Thailand’s path towards greater prosperity,” said Padilla. “When the world hears that Thailand is committed to democracy and free markets, the world will come here to invest and help Thailand grow. The United States stands with Thailand and its new government, and is committed to strengthening and deepening our trade relationship.”

On March 20, 1833, the United States and Thailand concluded the Treaty of Amity and Commerce, the first treaty between the United States and an Asian nation. The Thai Government and the U.S. Embassy in Bangkok are planning a series of events this year to mark the 175th anniversary of the opening of formal commercial relations with Thailand.

U.S. exports to Thailand increased by 74 percent from 2002 to 2007, from $4.86 billion to $8.44 billion. Two-way trade with Thailand amounted to $31.2 billion in 2007, making Thailand our 23rd largest trading partner. To review Padilla’s remarks, please visit http://trade.gov/press/speeches/padilla_042808.asp.

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