Export Development Canada (EDC) and the Export-Import Bank of Thailand (EXIM Thailand) have signed a Memorandum of Understanding (MOU) to advance trade and investment between the two countries and expand cooperation across the Asia-Pacific region. The agreement, announced on July 2, 2026, coincides with the 65th anniversary of Canada-Thailand diplomatic relations.
Framework for Collaboration
The MOU establishes a framework for joint initiatives, including supporting financing for projects, exchanging market intelligence, and facilitating business opportunities between Canadian and Thai companies. Collaboration will target priority sectors such as agri-food, clean technologies, energy transition, digital industries, advanced manufacturing, and critical minerals. The agreement also enables knowledge sharing on sustainability practices, risk management, and sustainable finance.
Growing Economic Ties
Bilateral merchandise trade between Canada and Thailand reached approximately CAD$ 7.4 billion in 2025, with Canadian exports totaling CAD$ 1.14 billion—a cumulative average growth rate of over 7% from 2020 to 2025. Top Canadian exports to Thailand include fertilizers, iron and steel, machinery, mechanical appliances, and wood pulp. Canadian direct investment in Thailand stood at CAD$ 531 million in 2024, while Thai direct investment in Canada reached CAD$ 692 million.
Strategic Importance
According to EDC, “Thailand is Canada’s second-largest trading partner in ASEAN and a key partner in diversifying trade and strengthening engagement across the Indo-Pacific.” The MOU supports Canada’s Indo-Pacific strategy and aligns with ongoing negotiations for a Canada-Thailand free trade agreement expected later this year. Both institutions aim to promote sustainable economic growth in markets of mutual interest.
