The Southern African Development Community (SADC) is set to sign a Memorandum of Understanding (MoU) with the Thailand International Cooperation Agency (TICA) to foster cooperation in tourism, agriculture and value chains across the region.

This follows successful bilateral discussions with TICA on the sidelines of the recently concluded International Monetary Fund (IMF) and World Bank annual meetings in Bangkok, Thailand.

Addressing journalists after the meeting, SADC Executive Secretary Elias Magosi said the proposed MoU would ensure deeper and more coordinated relations between SADC and Thailand.

Magosi said strengthened bilateral relations between SADC and Thailand could bring significant economic benefits to southern African countries seeking to diversify their economies.

"We have had key conversations with TICA, the Thailand International Cooperation Agency. This is an agency that Thailand uses to cooperate with bilateral partners, regions like SADC, and multinational or international organisations. We do not yet have a partnership with them, and we are working on developing an MoU. What is critical for SADC is that Thailand is very strong in agriculture and food security. It is also strong in tourism, and it has considerable expertise in value chains."

During a SADC meeting convened in Harare, Zimbabwe, in July 2024, the long-awaited Industrialisation Policy was adopted, marking a step towards ending decades of exporting minerals, agricultural produce and labour while importing finished products.

The planned MoU with TICA could therefore help advance the practical implementation of value chains across the SADC region.