US and Thailand Strengthen Cooperation on Critical Minerals Supply Chains

Strategic Insights -

The Governments of the United States of America and the Kingdom of Thailand have reached a Memorandum of Understanding (MoU) to strengthen cooperation on critical minerals supply chains development and expansion. The MoU aims to promote trade and investment, encourage investment in domestic value addition and processing industries, and support the transition to open, efficient, secure, and transparent critical minerals and rare earths markets. The cooperation will focus on sharing information, knowledge, and technical expertise, and will prioritize the development of domestic processing industries and value chains.

Key Takeaways:

  • The MoU seeks to strengthen critical minerals resource sector governance, promote partnerships between U.S. and Thai companies, and promote trade and investment between the two countries.
  • The cooperation will aim to share information, knowledge, and technical expertise on international best practices, assist Thailand in analyzing its critical mineral resource base, and coordinate on priority projects that advance secure, resilient, and responsible critical minerals supply chains.
  • Investment projects will include provisions for technology transfer, capacity building, and training of domestic personnel.
  • The MoU will prioritize the development of domestic processing industries and value chains.
  • The cooperation will also include sharing of information on potential tenders and projects, coordinating to protect domestic markets, and establishing high standard marketplaces.
  • The MoU does not represent an obligation of funds, and each participant will conduct activities in accordance with its applicable laws and regulations.

Statistics:

  • The U.S. and Thailand have an extensive and productive history of trade and investment, with a desire to deepen cooperation to benefit mutual economic and resource security.
  • The MoU aims to strengthen trade and investment in critical minerals supply chains, ensuring secure and reliable global critical mineral supplies, enabling technology transfer, and promoting research, development, and deployment of innovative technologies.
  • The cooperation will focus on priority projects that advance secure, resilient, and responsible critical minerals supply chains, with an emphasis on domestic value addition and processing industries.

Sources:

  • Memorandum of Understanding between the Government of the United States of America and the Government of the Kingdom of Thailand Concerning Cooperation to Diversify Global Critical Minerals Supply Chains and Promote Investments.
  • Source: [US Whitehouse](www.whitehouse.gov)