Last week, Israeli's minister of industry, trade and labour, Shalom Simchon, and Thailand's deputy minister of commerce, Poom Sarapol, signed a framework trade deal to develop bilateral trade between the countries.
The deal also seeks to assist Israel in increasing trade in the South East Asian market, according to report from Port2Port.
Recent years have seen Israel working to advance its exports to Thailand, not least of its fresh produce.
According to Simchon, Thailand's importance is elevated by its position as a gateway to South East Asia, as well as to Cambodia, Laos and Burma.
Bilateral trade between the two countries stood at US$1.3bn last year, with Israeli exports increasing to US$636m from US$490 in 2010.