Thailand and China have signed several agreements on economic, trade and investment cooperation, one of which is the Thai-Chinese railway project which is expected to start construction early next year.
The signing was made as the Thai deputy prime minister Somkid Jatusripitak was leading a top level delegation to visit China this week.
Dr Somkid disclosed that four agreements were signed by the Chinese and the Thai governments at the 5th Meeting of the Joint Committee on Trade, Investment and Economic Cooperation between China and Thailand (JC) held in Beijing.
The agreements were aimed to jointly develop the economic strategic partnership, he said.
This would include the plan to set the target to double their two-way trade from 60 billion US dollars in five years to 120 billion US dollars by 2020, while also extending their five-year joint economic development plan and set up a joint action plan which are focused on major areas including basic infrastructure projects, industrial clusters digital, science and technology, innovations and energy.
Dr Somkid said the two countries have also agreed to expand the bilateral trade on agricultural products.
As for the Innovation Hub project, China has also expressed its readiness to jointly develop and produce the new innovation with Thailand.
Besides, the two sides have officially signed a memorandum of understanding on Thai-China railway construction project 2016-2022.
This was considered a milestone as the construction could start early 2017, he said.
The first standard track railway route construction would link Nong Khai, Nakhon Ratchasima, Kang Koi, Map Ta Phut and Kang Koi –Bangkok. The first phase of the construction would be Bangkok – Nakhon Ratchasima which would begin early next year.