Thailand
Singapore and Thailand share excellent and multi-faceted ties. We cooperate closely across bilateral, regional and international fora. Our economic partnership is supported by ASEAN economic agreements and the Regional Comprehensive Economic Partnership (RCEP).
Last updated on 12 November 2026
Singapore-Thailand Economic Relations
Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng (in his then-capacity as Second Minister for Trade and Industry), former Thailand Minister of Commerce Pichai Naripthaphan, and officials from both sides at the 7th Singapore-Thailand Enhanced Economic Relationship (STEER) Ministerial Meeting in March 2025 in Singapore.
The Singapore-Thailand Enhanced Economic Relationship (STEER), launched in 2002, provides the framework for long-term strategic partnership in economic cooperation.
Singapore and Thailand also share a close partnership as proponents of the global rules-based trading system.
Both sides also collaborate on issues at plurilateral and multilateral platforms, including ASEAN, the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC).
Plurilateral Agreements involving Thailand
ASEAN Economic Agreements
Singapore and Thailand cooperate through a range of ASEAN economic agreements. These agreements support trade, investment, services, connectivity, and economic integration across the region.
Regional Comprehensive Economic Partnership (RCEP)
The Regional Comprehensive Economic Partnership (RCEP) is the world’s largest FTA, comprising about 30% of global GDP and about a third of the world’s population. It broadens and deepens Singapore’s economic connectivity with the region, opens up opportunities and provides businesses with more coherent access to the region.
International Platforms involving Thailand
Association of Southeast Asian Nations (ASEAN)
The Association of Southeast Asian Nations (ASEAN) consists of 11 member states following the official admission of Timor-Leste. The members are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Viet Nam, and Timor-Leste. These nations work together to promote economic growth, social progress, and regional stability in Southeast Asia.
Asia Pacific Economic Cooperation (APEC)
The Asia-Pacific Economic Cooperation (APEC) forum comprises 21 Asia-Pacific economies. It was established in 1989 in response to the growing interdependence among Asia-Pacific economies and the advent of regional trade blocs in other parts of the world. Its primary purpose is to promote economic growth and prosperity in the Asia-Pacific region. Singapore was a founding member alongside 11 other economies.
Indo-Pacific Economic Framework for Prosperity (IPEF)
The Indo-Pacific Economic Framework for Prosperity (IPEF) provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth, and aims to contribute to cooperation, stability, and prosperity in the region.
Future of Investment and Trade Partnership (FIT-P)
The Future of Investment and Trade Partnership (FIT-P) is a grouping of 20 small and medium-sized, trade-dependent countries located across different regions and geographies that seeks to advocate for open, predictable, rules-based and fair trade, enhance investment flows, and facilitate collaborative solutions which are vital to their prosperity and growth.