Thailand, China towards US$140 billion trade goal

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Thailand’s Eastern Economic Corridor project and China’s Belt and Road Initiative and Greater Bay Area project, a mutual goal to increase their bilateral trade value to US140 billion next year.
Thailand’s Eastern Economic Corridor project and China’s Belt and Road Initiative and Greater Bay Area project, a mutual goal to increase their bilateral trade value to US140 billion next year.

The Department of Trade Negotiations is trying to increase Sino-Thai trade value to US$140 billion within next year.



Auramon Supthaweethum, director-general of the department, said she recently had a tele-conversation on bilateral trade expansion with Peng Gang, director-general of the Department of Asian Affairs of China’s Ministry of Commerce as both countries had a mutual goal to increase their bilateral trade value to US140 billion next year.

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She also discussed connection between Thailand’s Eastern Economic Corridor project and China’s Belt and Road Initiative and Greater Bay Area project.

Mrs Auramon said she asked China to quickly implement the Sino-Thai memorandum of understanding on trade in farm products, especially the government-to-government agreement to import 1 million tons of Thai rice.

On the same occasion, she expressed gratitude towards China for its import of Thai farm products, especially fruits of which China was the biggest importer, she said.



Both countries would promote bilateral trade through online and offline channels despite the coronavirus disease 2019 pandemic, Mrs Auramon said. China invited Thai operators to join the China International Import Expo in Shanghai on Nov 5-10 and the China-ASEAN Expo in Nanning on Nov 27-30, she said.

China is the biggest import market and the second biggest export market of Thailand. Last year the bilateral trade was estimated at US$79.44 billion. In the first half of this year, the value stood at US$38.49 billion. (TNA)