Thimphu, Bhutan, 31 October 2026 – Thailand and Bhutan strengthened their bilateral cooperation with the signing of three agreements covering public health, financial cooperation and green finance, and clean energy. The signing ceremony, held at Pemako Hotel in Thimphu, was witnessed by H.E. Mr. Anutin Charnvirakul, Prime Minister of Thailand and Minister of Interior, and H.E. Dasho Tshering Tobgay, Prime Minister of Bhutan.
The ceremony was attended by Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance; Mr. Sihasak Phuangketkeow, Deputy Prime Minister and Minister of Foreign Affairs; Mr. Pattana Promphat, Minister of Public Health; Ms. Traisuree Taisaranakul, Secretary-General to the Prime Minister; and Mr. Chatchai Sirilai, President of the Bank for Agriculture and Agricultural Cooperatives (BAAC).
As part of the agreements, BAAC signed a Memorandum of Understanding (MoU) with Bhutan Development Bank Limited (BDBL) to deepen financial cooperation and promote sustainable agricultural development. The partnership places particular emphasis on advancing green finance to support environmentally sustainable farming practices, while facilitating knowledge and experience sharing in credit risk assessment, cross-border remittance services, and trade promotion for agricultural commodities and community-based products.
Through this collaboration, both institutions aim to improve access to financial services, create new market and business opportunities for farmers and small-scale entrepreneurs, and enhance the value of agricultural products. These efforts are expected to contribute to stronger grassroots economies and more inclusive economic growth in both countries.
The two countries also signed agreements in two other key areas. The first, between their respective Ministries of Public Health, seeks to strengthen cooperation in universal health coverage, disease prevention and control, healthcare workforce development, and medical research. It also encompasses digital healthcare, telemedicine, and the application of artificial intelligence (AI) in healthcare services, as well as arrangements for Bhutanese patients to receive treatment at public hospitals in Thailand. These initiatives aim to improve the quality, accessibility, and efficiency of healthcare services.
The second agreement, focusing on clean energy, involves Thailand’s Neighboring Countries Economic Development Cooperation Agency (NEDA), Bhutan’s Ministry of Finance, and Norion Renewable Energy Limited. It provides for technical assistance in reviewing the feasibility study and detailed design of the 100-megawatt Tareythang Solar Power Project in Bhutan, supporting the country’s transition towards cleaner energy and sustainable economic development.
For BAAC, this partnership represents an important milestone in its role as a key institution supporting agricultural and financial cooperation between Thailand and Bhutan. It also reflects the confidence placed in the Bank’s expertise and experience in agricultural finance, rural development, and grassroots economic empowerment.
Guided by its commitment to becoming a sustainable rural development bank and its strategic direction as the “Essence of Agriculture,” BAAC remains dedicated to sharing Thailand’s knowledge and practical experience in agricultural and rural development. By translating this expertise into meaningful cooperation, the Bank seeks to create economic opportunities, improve the livelihoods of farmers and local communities, and contribute to long-term, inclusive, and sustainable growth in both countries.
