BANGKOK, Nov 21 – Thailand and China will sign a memorandum of understanding (MoU) today which gives Bangkok more leeway in its rice export to Beijing.
According to the draft MoU, a three-year time frame, effective between 2013 and 2015, which is imposed for the Thai-Chinese rice deal will be lifted. The annual rice export ceiling to China, set at 5 million tonnes, will also be nullified.
Thai premier Yingluck Shinawatra and her Chinese counterpart Wen Jiapao will witness the signing of bilateral agreements including the MoU.
The MoU also calls for bilateral cooperation in pursuing rice trading while both countries will work together to create stability, fairness and transparency on every level so that China increases the volume of rice import from Thailand as much as possible.
Thailand and China will support their respective state enterprises and private businesses to expand the global rice market and eliminate rice trading obstacles for the interest of both countries.