Christopher Luxon and Thailand's Prime Minister have announced a goal of tripling two-way trade by 2045.
Meanwhile, Prime Minister Srettha Thavisin agreed New Zealand and Thailand will upgrade the bilateral relationship to a Strategic Partnership in the next two years.
It comes as Luxon met with his Thai counterpart, Thavisin, in Bangkok on Wednesday.
"New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build on our long-standing and warm relationship," Luxon said in a statement.
"Elevating our relationship to a Strategic Partnership to mark 70 years of diplomatic relations in 2026 reflects our shared ambition for a secure and prosperous future for our people."
During their meeting in Bangkok, the Prime Ministers discussed opportunities to strengthen the relationship across defence and security, education, and people-to-people links.
The pair have directed the two Foreign Ministries to coordinate with relevant ministries and agencies to collaborate on establishing a comprehensive plan for the partnership.
Another focus of the meeting was discussion of economic cooperation and increasing two-way trade and investment.
This included setting a shared goal to triple two-way trade by 2045.
"Thailand is a consistent top ten two-way trade partner for New Zealand, so we are building on a strong foundation. But there is more we could do to realise the real opportunities we see for New Zealand companies in the Thai market," Luxon added.
Luxon and Thavisin also discussed deepening defence cooperation, transnational organised crime, the crisis in Myanmar, and other regional and global challenges.
