Thailand signed a memorandum of understanding (MoU) yesterday to establish a joint working group on trade and economic cooperation with Austria in order to boost bilateral trade and strengthen economic cooperation.
Speaking after the MoU signing with Austria's Federal Minister of Labour and Economy Martin Kocher, Commerce Minister Jurin Laksanawisit said Thailand would use this forum to reduce trade obstacles, stimulate shipments and increase foreign direct investments while expanding business opportunities for the private sector.
Thailand also aims to expand the cooperation, particularly in areas where Austria has a specialisation deemed to be important for Thailand's development, such as the automotive industry, organic farming, the circular economy, machinery, robotics, automation industries, textile technology and human resource development.
