Strategic partnership, though less formal, is based on cooperation between the states on shared common objectives, primarily security but also extends to trade, economy, technology, etc. 

Significance of India-Thailand Strategic Partnership

• Mutually-Beneficial Goals: Both have shared interests in a free, open, transparent, rules-based, inclusive, and resilient Indo-Pacific and support for ASEAN (Association of Southeast Asian Nations) Centrality.
  • ‘ASEAN centrality’ emphasises the role of ASEAN as the driving force behind the geopolitics or geo-economics of the region.
• Strategic Location: Thailand is India’s Maritime Neighbour with key interest in regional peace. 
• Complementing Policies: India’s “Act East” and Thailand’s “Act West” policies complement each other. 
• Role in its Regional and Sub-regional Groupings:  Thailand is an important partner of India in the ASEAN; Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), etc. 

Other Key Agreements Inked

• MoUs on cooperation in various sectors: Development of National Maritime Heritage Complex (NMHC) at Lothal, Development of North Eastern Region (MDoNER), etc. 
• Facilitate People-to People Contact: Establishment of an India-Thailand Consular Dialogue. 
• Trade facilitation: Exploring the establishment of local currency-based settlement mechanism.