SINGAPORE – Singapore and Thailand will expand their cooperation in new areas, including food and energy security, the green economy, and digital connectivity. Both countries will also deepen existing cooperation in defence, trade, and investment.

Prime Minister Lawrence Wong said Singapore is keen to work with Thailand on carbon credits. “Thailand itself is stepping up its production of green power, including hydrogen and biofuels. So, we can work towards an implementation agreement on carbon credits collaboration, which would open up new opportunities for our companies,” he said.

PM Wong was speaking at a joint media conference with his Thai counterpart, Ms Paetongtarn Shinawatra, at the Government House in Bangkok on Nov 28. Singapore has implementation agreements with Papua New Guinea and Ghana, but carbon credits have not been traded yet. Once an implementation agreement is signed, it paves the way for carbon tax-liable companies in Singapore to buy carbon credits from projects in partner countries to offset up to 5 per cent of their taxable emissions.

PM Paetongtarn said the two countries discussed collaboration on green technologies and investments in renewable energy, which will help both achieve their carbon neutrality and net-zero commitments. On food security, PM Wong said: “This is also important for Singapore, as we import most of what we consume, and we are continually looking to enhance our food security.”

PM Wong, who is also Finance Minister, was on his introductory visit to the Thai capital at the invitation of PM Paetongtarn. In ASEAN, he has visited Malaysia, Brunei, Indonesia, and Laos since becoming prime minister in May. He is the first leader to make an official visit to Thailand since Ms Paetongtarn became Thailand’s prime minister in August.

PM Wong said both countries are pioneers in digital finance, with Singapore’s PayNow and Thailand’s PromptPay launching the world’s first linkage of real-time payment systems in 2021. This allows customers of participating banks in Singapore and Thailand to transfer money across the two countries using just a mobile number.

In May 2023, the Singapore Exchange and the Stock Exchange of Thailand launched the Thailand-Singapore Depository Receipts Linkage, the first exchange-level depository receipts cooperation in ASEAN.

PM Wong said both countries have much to be optimistic about. “We are not only strengthening our bilateral ties, but also working together as part of ASEAN. ASEAN has tremendous potential to be a key centre of economic growth for our region, given our diverse markets, our size, and youthful population.”

To maximise ASEAN’s potential, there is a need to accelerate the integration of the bloc’s economies, said PM Wong. ASEAN’s digital connectivity could be further strengthened, he added, thanking Thailand for its hard work as chair of the ASEAN Digital Economy Framework Agreement, which is expected to deepen the integration of the digital economy for ASEAN.

Another area of potential integration is the region’s power grid. Under phase one of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project launched in June 2022, Singapore imported up to 100MW of renewable energy from Laos PDR through Thailand and Malaysia.

“We look forward to Thailand’s support for phase two of this power integration project. This will form the building block for a broader ASEAN power grid, which can help to strengthen our energy resilience and sustainability,” said PM Wong.

During his one-day visit, PM Wong and his Thai counterpart witnessed the signing of a memorandum of understanding between Mr Piyawat Sivaraks, secretary-general of the Office of the Civil Service Commission, and Mr Albert Chua, permanent secretary of the Ministry of Foreign Affairs (MFA).

The Memorandum of Understanding on Postgraduate Scholarships for Thai Civil Servants aims to provide scholarships for Thai officials to study in selected master’s programmes in Singapore universities. PM Wong said this agreement builds on a longstanding exchange between both civil services.

He added it would hopefully facilitate more learning and sharing of best practices between officials on both sides, as well as those from ASEAN and beyond. PM Paetongtarn said they discussed ways to increase human resources development, something Singapore is “very well known” for, especially educational exchanges for upskilling and reskilling the workforce.

She said they hope to see a return of peace and stability in Myanmar, adding that the extended informal consultation among ASEAN countries in Bangkok in December would be an opportunity to discuss a practical way forward for the bloc on this matter.

PM Wong said he looks forward to PM Paetongtarn and her spouse visiting Singapore in 2025 – when both nations will mark 60 years of diplomatic ties – and other visits between the leadership of the two countries. “The 60th anniversary will be a timely occasion for us to showcase the progress made in the various areas we discussed today, whether it is on food, energy or digital connectivity, and look at new ways in which we can bring more benefits to our people and bring our people even closer together,” he said.

After the media conference, PM Wong attended an official lunch hosted by PM Paetongtarn. During his toast speech, he said Singapore and Thailand have bilateral links dating back to the 19th century, when King Chulalongkorn made his first overseas visit to Singapore in 1871.

In commemoration of the visit, King Chulalongkorn gifted Singapore a bronze elephant statue, which stands in front of the Old Parliament House today. The good ties between both governments are anchored by strong people-to-people links, PM Wong said, noting that Singaporeans and Thais frequently travel, study, work, and live in each other’s countries.

“Many Singaporeans enjoy coming to Thailand for their vacation, especially when there is a long weekend or public holiday,” he said. “I think many Singaporeans will know where are the best food places in Bangkok, where are the best places to shop in Bangkok. And likewise, many Thais are very familiar with Singapore too.”

He added that the close links extend to cultural aspects as well, citing a Thai music festival that was held in Singapore in January and a contemporary Thai art showcase at the Singapore Art Museum in December. Thailand and Singapore consistently feature among each other’s top tourist destinations. In 2023, there were reportedly 1.9 million visitors from Singapore to Thailand, and around 450,000 visitors from Thailand to Singapore.

PM Wong had an audience with Thai King Maha Vajiralongkorn and Queen Suthida before departing for Singapore on Nov 28. According to a statement by MFA, they discussed the substantial and multifaceted nature of the bilateral friendship that Singapore and Thailand had built up over the past six decades.

He was accompanied on this visit to Bangkok by Foreign Minister Vivian Balakrishnan and officials from the Prime Minister’s Office and Foreign Ministry. Summarising his visit at the end of his trip on Nov 28, PM Wong said on social media that he had good discussions with Thai PM Paetongtarn on how both countries can strengthen bilateral cooperation, and looked forward to hosting her in Singapore in 2025 as both countries celebrate 60 years of diplomatic ties.