Brazil now attractive to Thai investors
Brazil is a promising market for business people in Thailand, who are investing heavily on hotels, technology, and food. In the view of Thai Ambassador Surasak Suparat, the business between the two countries has the potential to expand even further. “Brazil is a very attractive market for Thai businessmen,” he said.
Figures confirm Suparat’s optimism. In 2018, Brazil became Thailand’s top commercial partner in Latin America, and Thailand ranked seventh among Brazil’s partners in Asia. Bilateral trade surpassed $3.5 billion, with Brazil exporting some $2 billion and importing approximately $1.4 billion—a surplus of $600 million on Brazil's side.
As for investment, the involvement of Thai companies in hotels and electronics in Brazil is on the rise. Thai group Minor International has brought bulky investment to luxury hotels like Tivoli Mofarrej, in São Paulo, Tivoli Ecoresort, in Salvador, and NH Hotel, in Curitiba. Another major Thai project is expected to be unveiled still this year—the Anantara Maraú Bahia Resort.
Brazil–Thailand – 60 years of diplomatic ties
Brazil and Thailand are celebrating the 60th anniversary of their diplomatic relations. The date is when, in 1959, Brazilian Ambassador Hugo Gouthier and then Thai Foreign Minister Thanat Khomann exchanged correspondence. The Brazilian embassy in Bangkok was opened up that same year. Thailand’s embassy in Brasília, in turn, was inaugurated in 1964.
The celebration, Suparat said, comes at a moment of continuous contact between the two nations, with deals for cooperation in a number of fields, like technical and scientific. Thai landscapes and culture have become increasingly popular among Brazilians. Some 66 thousand Brazilian tourists visited the country last year. Brazil is the country with the highest number of Muay Thai schools.
In a note celebrating bilateral relations, the Brazilian Foreign Ministry said “Brazil is still committed to strengthening relations with Thailand.” The two countries are willing to expand initiatives in commerce and investment, cooperation in energy, security, and defense, among others.
Regarding his outlook on the expansion of trade ties, Ambassador Suparat said that Thailand plans to further increase exports of auto engine parts, rubber, machinery, and vehicle accessories. From Brazil, Thailand plans to boost imports of pet food, fruits, leather, vehicle engine parts, and cotton.
