
Export Development Canada and EXIM Thailand signed an MOU targeting CAD$7.4B in bilateral trade. Sectors from agri-food to critical minerals are in play.
Export Development Canada and the Export-Import Bank of Thailand signed a memorandum of understanding Monday to deepen trade and investment ties between the two countries. The agreement targets sectors where both economies overlap: agri-food, clean technology, advanced manufacturing, and critical minerals.
Bilateral merchandise trade hit CAD$7.4 billion in 2025, the release said. Canadian exports to Thailand reached CAD$1.14 billion that year, a compound growth rate of just over 7% from 2020. Canadian direct investment in Thailand totaled CAD$531 million in 2024; Thai investment in Canada was CAD$692 million.
The MOU sets up a framework for co-financing projects, sharing market intelligence, and connecting companies across Canada, Thailand, and the broader Asia-Pacific region. "Through closer collaboration, we are strengthening in-market connections and helping Canadian and Thai companies access opportunities," Alison Nankivell, president and CEO of EDC, said. Charat Rattanaboonniti, president of EXIM Thailand, noted a focus on "knowledge exchange in ESG, sustainable finance, and risk management."
Canada's trade minister, Maninder Sidhu, said the agreement dovetails with ongoing negotiations toward a Canada-Thailand free trade agreement. Ottawa is pushing to diversify its export base beyond the United States, and Thailand is Canada's second-largest trading partner inside ASEAN.
The practical question for traders watching this theme is whether the MOU translates into identifiable deal flow. The document itself is a framework, not a binding commitment. Confirmation would come in the form of specific co-financed projects or new Canadian entries into Thai infrastructure and clean-energy tenders. A weakening signal would be if the FTA talks stall or if Thai policy shifts toward competing trade pacts.
For now, the numbers tell the story of a corridor that is growing but still modest. Canada's CAD$1.14 billion in exports to Thailand is roughly 0.3% of its total exports. The top categories are fertilizers, iron and steel, machinery, and wood pulp. The opportunity lies in moving up the value chain into clean tech and digital services, where Canadian companies hold an edge.
"This partnership is particularly important in bolstering sectors such as clean technology, infrastructure, and digital industries, where Canadian expertise can drive sustainable growth," Nankivell said.
The next concrete marker is the FTA negotiation calendar. Sidhu said the two sides are advancing talks this year. A signed FTA would trigger a structural shift in trade costs and likely accelerate cross-border investment from both export credit agencies.
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