Prime Minister Prayut Chan-o-cha has hailed the rapid growth in Thai-Chinese trading ties that has led to the expansion of economic and trade cooperation in Shandong, a coastal province in eastern China.
Gen Prayut praised agencies for their efforts in expanding trade cooperation with Shandong through the China (Shandong)-Thailand Business Cooperation and Matchmaking Conference this month. government spokesman Anucha Burapachaisri said on Wednesday.
The conference was organised by the China Council for the Promotion of International Trade (CCPIT) in Shandong, the Thai-Chinese Chamber of Commerce and the Board of Investment (BoI).
It was attended by more than 400 companies from Shandong and Thailand. More than 10 memoranda of understanding (MoU) were signed between state agencies, as well as trading and enterprise promotion agencies.
Mr Anucha said Shandong has the second biggest population among China’s provinces and has high economic potential. It is home to 41 large industries and has the third largest provincial gross domestic product (GDP) in China.
Shandong also offers international connectivity via the Silk Road network of land and maritime routes. The Regional Comprehensive Economic Partnership (RCEP), a 15-country group to which Thailand also belongs, further enhances cooperation among member countries.
“The premier believes trade cooperation will help strengthen ties among businesses and meet the needs of investors and entrepreneurs,” Mr Anucha said.
“Thailand is widely cooperating with China in industry, commerce, agriculture, technology, energy and tourism. The government is also ready to support cooperation in the business sector to help drive the economy and elevate Thai industries.”
Citing the Thai-Chinese Chamber of Commerce, he said more than 100 Shandong enterprises were represented at the conference, 22 of which were engaged in investment cooperation and product procurement, with high potential to launch high-technology markets.
Mr Anucha said the groups are interested in investing in Thailand in eight main sectors: electrical equipment; construction materials; tyres and automotive parts; agricultural products; food and food processing equipment; weaving industry; health, medicine and chemicals; and e-commerce.
Bangkok governor Chadchart Sittipunt, meanwhile, attended a China (Guangdong)-Thailand Economic and Trade Cooperation Conference at the Shangri-La Hotel on Wednesday to promote business growth at the city-to-city level. Bangkok has established sister-city relations with 11 Chinese cities, including Guangzhou and Shenzhen.
The meeting focused on building ties between the Guangdong–Hong Kong–Macau Greater Bay Area and Thailand’s Eastern Economic Corridor.