Export Development Canada (EDC) and Export-Import Bank of Thailand (EXIM Thailand) have signed a memorandum of understanding (MOU) to strengthen bilateral trade and investment ties and expand co-operation in the Asia-Pacific region.
Canada’s exports to Thailand experienced a cumulative average growth rate of just over 7% from 2020 to 2025, reaching a total of $1.14 billion in 2025. The top export categories included wood pulp, fertilizers, iron, steel, machinery, mechanical appliances and parts.
Canadian direct investment in Thailand totalled $531 million in 2024, while Thai direct investment in Canada reached $692 million.
The new agreement to support joint initiatives, exchange market intelligence and explore new opportunities comes as both countries mark 65 years of diplomatic relations this year. Collaboration will focus on priority sectors aligned with both countries’ economic strengths and global demand, including agri-food, clean technologies, the energy transition, digital industries, advanced manufacturing and critical minerals.
“As Canada’s second-largest trading partner in the Association of Southeast Asian Nations (ASEAN), Thailand is key partner in diversifying and strengthening our engagement across the Indo-Pacific,” says federal minister of international trade Maninder Sidhu. “This agreement will deepen our ties as we advance negotiations toward a Canada-Thailand free trade agreement this year.”