The Commerce Ministry joined hands with Singapore's minister during APEC to support food security by promoting Thai rice and meat to meet Singapore's demand, while discussing multilateral cooperation to address global challenges.
On 22 May 2026, Mrs. Supachai Suthammanont, Deputy Prime Minister and Minister of Commerce, met with Ms. Grace Fu Hai Yan, Singapore's Minister for Sustainability and the Environment, during the APEC Ministers Responsible for Trade meeting in Suzhou, China. They discussed mechanisms for cooperation on food security, participation in multilateral agreements, and expanding exports of rice and agricultural products to enhance trade and investment opportunities between the two countries.
Mrs. Supachai revealed that both sides exchanged views on the volatile global trade situation caused by various factors and agreed to strengthen economic and trade cooperation, especially regarding food security and supply chain resilience. Thailand proposed elevating cooperation from regular trade to a concrete food security concept during crises, focusing on both product volume and price stability. Rice was promoted as the initial key product, with plans to extend cooperation to other consumables such as chicken eggs, meat, key agricultural products, canned foods, and seafood raw materials. They agreed that for perishable goods, close collaboration is essential, including proposing technical workshops between relevant agencies to develop practical, creative, and actionable cooperation guidelines. Singapore’s expertise in trade management and supply chain systems was noted, suggesting potential partnership in strengthening supply chains.
Additionally, Thailand pushed to hold a meeting on Thai-Singapore trade relations, the Singapore-Thailand Enhanced Economic Relationship (STEER), within this year instead of the originally scheduled 2027. This aims to monitor and accelerate trade cooperation to keep pace with global economic volatility and rapidly changing international geopolitical situations.
Mrs. Supachai added that Singapore invited Thailand to join the multilateral Future of Investment and Trade Partnership (FIT P), which already includes over 16 countries, to enhance cooperation on supply chains, digital trade, and innovation amid global geopolitical challenges. Singapore also invited Thailand to attend the FIT P ministerial meeting in July 2026 in New Zealand. Thailand has given a positive signal toward this cooperation but must complete internal procedures before officially joining. Both sides recognized the importance of regional cooperation, particularly within ASEAN, to address crises such as food and energy issues.
Singapore is Thailand’s third largest ASEAN trading partner and ninth globally. In 2025, bilateral trade totaled $19.66 billion, up 10.75%. In the first quarter of 2026 (Jan-Mar), trade value reached $6.72 billion, with Thai exports at $4.48 billion, an 86.33% increase, and imports at $2.23 billion, up 31.67%. Major Thai exports include gems and jewelry, computers and components, refined oil, other industrial products, and electronic circuits. Imports from Singapore include computers and components, diamonds, gems, bullion and gold, chemicals, plants and plant products, and electronic circuits.
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