Thai Prime Minister Srettha Thavisin to meet Hong Kong leader John Lee during 3-day trip to city
- Srettha Thavisin to meet John Lee at Government House on second day of visit
- Trip shows city remains ‘crucial hub’ for channelling investment in and out of mainland China, economist Gary Ng says
Thai Prime Minister Srettha Thavisin will meet Hong Kong Chief Executive John Lee Ka-chiu as part of a three-day visit to the city starting on Sunday, with one analyst saying the trip underscores the city’s importance as a regional hub for investment.
The Hong Kong government on Friday said Thavisin would meet Lee at Government House on the second day of his visit.
Gary Ng Cheuk-yan, a senior economist for Asia-Pacific at Natixis Corporate and Investment Bank, said the visit showed the city remained a “crucial hub” for channelling investment in and out of mainland China and the bilateral opportunities yet to be tapped between the two places.
“The visit shows there can be more areas of cooperation, such as technology innovation, tourism and green-related sectors and financing,” he said.
The announcement came as Lee continues to work to expand Hong Kong’s role in Southeast Asia, with a string of new trade agreements signed with other countries this year.
Hong Kong was the fourth largest investor in Thailand in 2022, with foreign direct investment of almost US$550 million. Bilateral trade also reached just under US$20 billion in the same year.
Parnpree Bahiddha-Nukara, who is both Thailand’s deputy prime minister and its minister of foreign affairs, will also give a keynote speech at the Hong Kong-Asean Summit 2023, organised by the Post, on Monday.
Secretary for Commerce and Economic Development Algernon Yau Ying-wah flew to Bangkok in July for a business summit run by the Hong Kong Trade and Development Council.
Yau met Thai business leaders and promoted the city’s advantages as a “sound destination” for companies that wanted access to the mainland under the “one country, two systems” governing principle.
Lee met Thavisin’s predecessor, Prayuth Chan-ocha, on his first overseas visit last November to attend an Asia-Pacific Economic Cooperation forum in Bangkok.
Lee said at the time he wanted stronger bilateral relations and exchanges between the two jurisdictions and also asked for Thailand’s support on the city’s early accession to the Regional Comprehensive Economic Partnership, the world’s largest free-trade organisation.
Lee embarked on a week-long tour to shore up relations and expand business ties with Malaysia, Singapore and Indonesia in the summer that resulted in the signing of 33 memorandums of understanding across the three countries.
He earlier predicted the 10-member Association of Southeast Nations, including Thailand, Singapore, Malaysia and Indonesia, would become one of the world’s biggest economic engines.
