Thailand and Equatorial Guinea Move to Expand Cooperation in Wider Areas

(15/03/2013)

Prime Minister Yingluck Shinawatra and President Teodoro Obiang Nguema Mbasogo of the Republic of Equatorial Guinea have moved to widen cooperation in various areas between the two countries. Both leaders discussed bilateral cooperation in energy, agriculture, trade, and investment during the first visit of the President of Equatorial Guinea to Thailand between 13 and 16 March 2013. Equatorial Guinea is one of the African countries with the highest growth rate particularly since the discovery of off-shore oil reserves. It plays an important role in strengthening relations between Africa and other regions, with an aim to be a leading country of the Sub-Saharan Africa region and a commercial hub of the Western Africa. The Secretary-General to the Prime Minister, Mr. Suranand Vejjajiva, said that the visit of the President of Equatorial Guinea to Thailand marked the first high-level visit since the establishment of diplomatic relations in 1991. Ever since the implementation of diplomatic relations 22 years ago, Thailand and Equatorial Guinea have witnessed cordial relations. Regarding trade and investment, both countries saw an increase of bilateral trade value eightfold. Trade between them was valued at 188 million baht in 2011, and the amount rose to 1,561 million baht in 2012. According to Prime Minister Yingluck, Equatorial Guinea is a country worth exploring by the Thai private sector. The expertise of Thai business in the processing of agricultural products, construction, and energy matched well with the fast growing industrial sector of Equatorial Guinea. At the same time, the Equatorial Guinean President had a plan to build a new capital city and would welcome foreign investments for the project. Concerning energy security, both countries exchanged views on the energy security policy in which Equatorial Guinea has capacity and on agriculture, food, and fishery in which Thailand has capacity. They also discussed exchange of expertise and more cooperation in this matter. Equatorial Guinea expressed interest in purchasing rice from Thailand on a long-term basis, whereas Thailand was interested in stepping up cooperation in the area of energy, which is heightened on its national agenda. On political security, the Thai government viewed the “South-South Cooperation” as an important scheme for relations reinforcement among the developing countries. Prime Minister Yingluck commended Equatorial Guinea’s active role in the Cooperation and its success in hosting the 7th Summit of African Caribbean and Pacific Heads of State and Government, and the 3rd Africa – South America Summit. Thailand wished to have such exchange with the African countries, which would further lead to discussion framework and the establishment of cooperation network between Asia and Africa. Thailand also called for support from Equatorial Guinea in its application for a non-permanent membership of the United Nations Security Council. Following the plenary discussion on 14 March 2013, Prime Minister Yingluck and the President of Equatorial Guinea witnessed the signing ceremony of the memorandum of understanding (MOU) on the formation of bilateral discussion between Ministry of Foreign Affairs of the Kingdom of Thailand and Ministry of Foreign Affairs and Cooperation of the Republic of Equatorial Guinea.