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Switzerland has a long-standing business and trading relationship with Thailand dating back to the 18th century. Switzerland and Thailand share many similarities as the economies of both countries are highly export and service oriented, and the service sector is the dominant force of economic growth. The Swiss feel privileged that His majesty, the late King Bhumidol Adulyadej, spent 17 years of his youth with his family in Lausanne, Switzerland, where he received his education and devised his economic policies on sufficiency and sustainability. We believe that both countries have strengths that are mutually beneficial to each other. Thailand has a skilled workforce adept in producing high precision parts needed in the Swiss watch, jewelry and electronic component industries. Switzerland offers technological advanced products and machinery, watches, pharmaceuticals, food and consumer products. The long-lasting and warm relationships between the Royal Thai government and the Swiss Confederation set a solid foundation for the successful expansion of business, investment, and trade amongst both countries. In 2017 Switzerland was the 12th largest foreign investor in Thailand wherein the bilateral trading volume of both countries amounted to 7,8 billion US$.

 

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STCC Newsletter October 2018 (Nr. 99)