Japan’s foreign minister arrived in Bangkok on Sunday (May 1) for a two-day visit aiming to strengthen economic ties after Japanese investments in Thailand slumped last year amid political fears as well as stiff competition emerging from more nimble neighbours.
Fumio Kishida and his Thai counterpart, Don Pramudwinai, met to discuss various issues on bilateral cooperation and regional matters.
Kishida told a news conference after the meeting that Thailand remained an important stakeholder to Japan and was crucial to Japan’s trade relationships with the rest of the world.
“There are as many as 4,500 Japanese companies based here. Thailand is a partner which plays a vital part in the global supply chain (of Japanese companies),” Kishida said.
Japan has historically been the largest investor in Thailand, Southeast Asia’s second biggest economy which Tokyo sees as an important production base.
However, Japanese investments in Thailand nosedived by 81 percent last year, according to official data, something analysts say mirrors concern about Thailand’s economy which continues to struggle under prolonged military rule.
Kishida’s visit to Bangkok kicks off a regional tour which will also take in Myanmar, Laos and Vietnam. His Thailand trip follows his visit to Beijing where China and Japan both expressed their willingness to improve strained relations over conflicting territorial claims in the East China Sea.
