Australia - Thailand Strategic Economic Cooperation Arrangement (SECA)
- Senator the Hon Don Farrell, Assistant Minister for Foreign Affairs
Assistant Minister for Foreign Affairs the Hon Tim Watts MP and Thai Vice Minister of Commerce His Excellency Mr Sansern Samalapa this week signed the Thailand - Australia Strategic Economic Cooperation Arrangement (SECA).
Two-way trade between Australia and Thailand was valued at more than $22 billion in 2021. The arrangement signed this week advances our shared commitment under the Strategic Partnership to expand economic engagement and growth.
SECA will tap into the enormous potential in our trade relationship by identifying key sectors where Thailand and Australia have comparative strengths, including digital, tourism, energy transition, and agriculture.
The arrangement also underlines both countries' commitment to strengthening the rules-based global trading system and working together to address economic challenges and facilitate global economic recovery.
Over the next six months, Australia and Thailand will work together, in consultation with business and key stakeholders, to develop an implementation agenda for SECA.
The Thailand-Australia Free Trade Agreement has driven our close economic relationship since it came into force in 2005.
Australia and Thailand are both parties to the Regional Comprehensive Economic Partnership and the ASEAN-Australia-New Zealand Free Trade Agreement, which are also contributing to deepening our economic integration.
Both countries are also committed to creating an Indo-Pacific Economic Framework, which will facilitate trade and investment flows in the region.
Quote attributable to Minister for Trade and Tourism, Senator the Hon Don Farrell:
“Our trade, investment and commercial ties with Thailand will be further strengthened under the Strategic Economic Cooperation Arrangement (SECA).
“Australia and Thailand are founding members of the Indo-Pacific Economic Framework and have a shared commitment to working together to support a peaceful, prosperous and resilient Indo-Pacific.”
Quote attributable to Assistant Minister for Foreign Affairs, the Hon Tim Watts MP:
“I was pleased to be in Bangkok to sign the Thailand-Australia Strategic Economic Cooperation Arrangement (SECA) with His Excellency Mr Sansern Samalapa, Vice Minister of Commerce.
“SECA is the economic focus of the Strategic Partnership between our two countries, and will build on our already significant trade and economic ties.
- DFAT Media Liaison: (02) 6261 1555