US-Thailand Memorandum of Understanding Concerning Cooperation to Diversify Global Critical Minerals Supply Chains and Promote Investments

In October 2025, the United States and Thailand signed a Memorandum of Understanding ("MOU") concerning critical mineral supply chains. The MOU seeks to strengthen cooperation on critical mineral supply chain development, promote trade and investment, encourage investment that supports domestic value addition, and support the transition to open, efficient, secure and transparent critical mineral markets. Under the MOU, the two countries have committed to implement certain measures:

• Collaboration and Exchange of Best Practices: The United States and Thailand will share information and best practices to increase the competitiveness of Thailand's minerals sector.
• Investment: The two countries will coordinate regarding priority projects that advance secure, resilient and responsible critical mineral supply chains. Under the MOU, Thailand has committed to provide the United States with a right of first opportunity to invest in Thai critical mineral assets. Each country will also provide information to the other regarding potential tenders and projects at the earliest practicable moment (and in any case no later than such information is provided to other potential investors) so as to allow each country to disseminate this information to its companies.
• Coordination on Standards-Based Markets: The two countries will coordinate to protect their respective domestic markets from unfair competition. This will be done by establishing standards-based markets that allow participants to trade freely and within a pricing framework (including through the use of price floors and similar measures). 
• Asset Sales: Thailand and the United States will work together to develop regulatory authorities that allow for the review and deterrence of critical mineral asset sales on national security grounds. 

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