Trump begins Asia itinerary…U.S. and Thailand sign memorandum of understanding to diversify mineral supply chains

The Asia visit of President Donald Trump, which has attracted global market attention, has begun. The first step was signing a memorandum of understanding with Thailand to diversify important mineral supply chains.

On the 26th (Korean time), the White House announced on its official website that the U.S. government and the Thai government signed a memorandum of understanding in Kuala Lumpur, where the Association of Southeast Asian Nations (ASEAN) Summit is being held, to diversify global important mineral supply chains and promote investment.

The memorandum of understanding aims for the two countries to strengthen cooperation in the important mineral resources sector and to promote trade and investment to expand Thailand's integration into global supply chains.

Specifically, the two countries will cooperate in various areas such as exploration, extraction, processing, recycling, and recovery of important mineral resources. In particular, they agreed to pursue cooperation measures that prioritize domestic processing industries and value chain development through technology transfer and capacity building to enhance the competitiveness of Thailand's important mineral sector.

In addition, the parties will include intergovernmental meetings, seminars, joint research, and cooperation activities with the private sector and universities as cooperation mechanisms. The two countries also agreed to share information early on potential bids and projects, thereby providing investors with sufficient time to have opportunities to cooperate.

Through this agreement, the United States and Thailand plan to protect their important minerals and rare earths markets, establish market-oriented and fair trading environments, and strengthen efforts to create stable and reliable supply chains.

The White House said, "This agreement is significant in strengthening the economic security between the two countries through cooperation in important mineral markets and in laying the groundwork for sustainable development going forward."