Visiting Thai Deputy Prime Minister Somkid Jatusripitak said Tuesday that Bangkok is considering a new type of bond in Asia that countries in the area could use to invest their foreign reserves.
The idea was mentioned during a meeting with Finance Minister Masajuro Shiokawa in Tokyo, an official of the ministry said Tuesday.
The so-called Asia Bond would mesh with the idea of Asian countries jointly pooling their foreign reserves to deal with a financial crisis, Somkid was quoted as saying.
No further details were mentioned, the official said.
During a 15-minute meeting, Somkid, who also serves as the Thai finance minister, said Thailand wants to conclude a free-trade agreement with Japan, although a multilateral FTA within ASEAN Plus Three is also important, the official said.
ASEAN Plus Three groups the Association of Southeast Asian Nations plus Japan, China and South Korea.
Although Shiokawa did not directly touch on the FTA issue, he said Tokyo wants to further cooperate with Thailand as well as with ASEAN in the fields of trade and finance, the official said.
Shiokawa also suggested it is important for Thailand to invite direct investment from smaller Japanese companies with technological knowhow, the official said.