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Thailand is an important trading partner and ally of the United States, dating back to the establishment of diplomatic ties in 1833 through the Treaty of Amity and Commerce. The United States and Thailand meet regularly under the auspices of our 2002 bilateral Trade and Investment Framework Agreement (TIFA) to discuss ways to expand trade and address outstanding issues, including related to intellectual property, customs, and agriculture, and other issues. (For information on upcoming U.S. meetings with Thailand, see the Calendar of Events page). The United States and Thailand launched Free Trade Agreement negotiations in 2004 but the United States suspended them in 2006 following the dissolution of the Thai Parliament and the subsequent military-led coup.
Over the past decade, two-way trade has grown by more than 36 percent, with U.S. exports to Thailand increasing by more than 30 percent to $10.6 billion. Major U.S. export categories to Thailand include electrical machinery, machinery, aircraft, optical and medical instruments, and vehicles. U.S. total exports of agricultural products to Thailand totaled $1.6 billion in 2016, our 15th largest agricultural export market. U.S. services exports to Thailand have almost tripled in the last decade and in 2015 totaled $5.6 billion (latest available data). The stock of U.S. foreign direct investment (FDI) in Thailand was $11.3 billion in 2015 (latest data available), and the stock of Thailand's FDI in the United States was $2.5 billion in 2015 (latest data available. Thailand was the United States' 25th largest goods export market in 2016, but we maintain an $18.9 billion goods trade deficit with Thailand, the United States’ 11th largest. The United States is Thailand’s third largest source of imports, after China and Japan.
Thailand has bilateral and regional FTAs with many countries across the Asia Pacific, including with Australia, New Zealand, India, Japan, China, and Korea as well as with the 10-member Association of Southeast Asian Nations. It is party to the 16-member Regional Comprehensive Economic Partnership negotiations, and launched FTA negotiations with the EU in 2013.