Prime Ministers Christopher Luxon and Srettha Thavisin have agreed to target tripling two way trade between New Zealand and Thailand over the next two decades.
This was described as an “ambitious” goal in a joint statement released by the two leaders after their bilateral meeting on Thursday, but would only be a repeat of the past.
Trade between the two countries has already tripled in the 20 years that have passed since a free trade agreement was signed in 2005. That required an annual growth rate of 5.7%.
By contrast, the National Party campaigned in last year’s election on doubling New Zealand’s exports over the next 10 years, which would require an annual growth rate of 7.2%.
Total bilateral trade was $4.5 billion in 2023, so Luxon and Thavisin would be aiming for $13.5 billion in 2045. Inflation at 2% would bring trade value to $7 billion, without any growth at…
