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167312
Fri, 03/11/2011 - 05:43
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http://m.oananews.org//node/167312
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Thailand boosts trade and investment with China's Anhui Province
BANGKOK, March 11 (TNA) - The Thai Ministry of Commerce has joined forces with China's Anhui Province to boost bilateral trade and investment.
In a speech on official policies to boost trade and investment between Thailand and Anhui, Thai Deputy Commerce Minister Alongkorn Ponlaboot said on Thursday that bilateral trade between Thailand and the Chinese province rose by 38.25 per cent to over 320 million US dollars last year.
Alongkorn acknowledged that Anhui's population of over 68 million is comparable with the Thai population. Importantly, the Chinese province is demanding more consumer products from Thailand, witnessed by high bilateral trade last year, and that visits to Thailand by authorities from the public and the private sectors of Anhui will further boost bilateral relations and create opportunities for the development of trade and investment between the two sides such as automotive industries, machinery, chemical products, textile and logistics as well as increased levels of tourism.
Alongkorn said that the Board of Investment of Thailand (BOI) and senior authorities of Anhui province would discuss mutual promotional privileges, as both sides plan to increase bilateral trade by 50 per cent this year.
According to the Thai deputy commerce minister, the ASEAN-China Free Trade Agreement has been taking shape, as China has reduced its import tariffs on some 5,000 products to zero per cent and negotiations are ongoing to expand the zero-per cent tariffs to cover all product items, giving Thailand, as a member of the Association of Southeast Asian Nations (ASEAN), a good opportunity to sell more products to China. Bilateral trade between Thailand and China was as high as 45 billion US dollars last year, with China being one of the biggest markets for Thai products. Thailand also has chances to enter into other markets related to China.
Meanwhile, Yu Yong, Director of Anhui's Bureau of Commerce, is currently leading representatives of 40 heavy industrial companies from Anhui to take part in five-day trade discussions with leading Thai companies to boost bilateral trade and investment--set from March 8-13. (TNA)
In a speech on official policies to boost trade and investment between Thailand and Anhui, Thai Deputy Commerce Minister Alongkorn Ponlaboot said on Thursday that bilateral trade between Thailand and the Chinese province rose by 38.25 per cent to over 320 million US dollars last year.
Alongkorn acknowledged that Anhui's population of over 68 million is comparable with the Thai population. Importantly, the Chinese province is demanding more consumer products from Thailand, witnessed by high bilateral trade last year, and that visits to Thailand by authorities from the public and the private sectors of Anhui will further boost bilateral relations and create opportunities for the development of trade and investment between the two sides such as automotive industries, machinery, chemical products, textile and logistics as well as increased levels of tourism.
Alongkorn said that the Board of Investment of Thailand (BOI) and senior authorities of Anhui province would discuss mutual promotional privileges, as both sides plan to increase bilateral trade by 50 per cent this year.
According to the Thai deputy commerce minister, the ASEAN-China Free Trade Agreement has been taking shape, as China has reduced its import tariffs on some 5,000 products to zero per cent and negotiations are ongoing to expand the zero-per cent tariffs to cover all product items, giving Thailand, as a member of the Association of Southeast Asian Nations (ASEAN), a good opportunity to sell more products to China. Bilateral trade between Thailand and China was as high as 45 billion US dollars last year, with China being one of the biggest markets for Thai products. Thailand also has chances to enter into other markets related to China.
Meanwhile, Yu Yong, Director of Anhui's Bureau of Commerce, is currently leading representatives of 40 heavy industrial companies from Anhui to take part in five-day trade discussions with leading Thai companies to boost bilateral trade and investment--set from March 8-13. (TNA)
