Two nominees engage in a telephone conversation to reiterate their desire to improve business ties.
PUBLISHED: 11 Apr 2025 at 18: 47
In light of the threat of large mutual tariffs in the United States, Thailand and New Zealand have come to a consensus to reinforce bilateral trade ties across all channels using current frameworks.
According to government official Jirayu Houngsub, Prime Minister Paetongtarn Shinawatra and her New Zealand rival Christopher Luxon had a telephone conversation on Friday to talk about closer assistance.
Ms. Paetongtarn stated during the discussion that the Thai government is carefully monitoring the effects of US tax policies and is willing to engage in dialogue with Washington to encourage more a balanced trade relationship.
Mr. Luxon pointed out that while New Zealand’s actual average tariff was only 1.9 %, the US had a 20 % reciprocal tariff rate.
Even though the US has announced a 90-day wait on bilateral taxes for all nations but China, and withholding the 10 % foundation transfer tax, the two leaders have come to a consensus to speed up progress to improve economic relations.
The two countries even expressed concern about the potential for rising global inflation and trade war, which was stifle regional economic growth.
The leaders reaffirmed that existing bilateral and multilateral frameworks, such as the Asean-Australia-New Zealand Free Trade Agreement ( AANZFTA ), Regional Comprehensive Economic Partnership (RCEP), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP ), should be used as tools to reduce the impact of US import taxes.
Mr. Luxon even expressed his condolences over the recent earthquake in Thailand, and he thanked the Thai government for aiding Myanmar in the process.
Ms. Paetongtarn concluded the discussions by reaffirming Thailand’s commitment to developing diplomatic relations with New Zealand into a strategic relationship by 2026.