China is welcoming more high-quality products from Thailand and other neighbouring countries into its vast market amid global uncertainty, according to Ambassador Han Zhiqiang.
China has a middle-income population of 500 million and a consumer market nearing $7 trillion, Mr Han said in response to a question from the Thai Senate about whether his country would expand market access to mitigate the impacts of a trade war.
The Chinese Embassy on Saturday released the transcript of a speech delivered by Mr Han to the Senate on May 13 during a seminar titled “Geopolitics, the Global Economy, and China’s Role: Opportunities and Challenges for Thailand”.
During the event, he discussed the current international and regional landscape and China-Thailand relations and addressed questions from senators.
In response to the Senate’s primary question, Mr Han said China has consistently emphasised its commitment to sharing development opportunities and dividends with other countries by actively advancing a high-standard open economy.
China’s tariff levels are the lowest among developing countries and are approaching the average rates of developed countries, he said, adding that the China International Import Expo, held annually in Shanghai, has become a vital platform for global goods to access the Chinese market.
This year, China will turn the entire island of Hainan into a “free trade island”, and the China-Asean Free Trade Agreement 3.0 is expected to be signed within the year, he noted.
Mr Han said that that after working in Thailand for over three years, he has personally witnessed China and Thailand as good neighbours connected by mountains and rivers, and as close relatives with blood ties and partners with a shared future.
“Faced with a volatile international landscape and external risks and challenges, it is imperative for our two countries to uphold the tradition of standing together through thick and thin, deepen mutually beneficial cooperation and jointly navigate uncertainties,” he said.
China remains committed to high-quality development and openness, and stands ready to share opportunities with Thailand and all countries, the ambassador said.
“China is not only a manufacturing powerhouse but also a vast market, boasting a nearly $7-trillion consumer market. The potential for China-Thailand investment and trade collaboration is immense with a bright future ahead,” he said.
“This year marks the 50th anniversary of diplomatic relations between China and Thailand, positioning our bilateral ties at a new historical juncture.”
During Prime Minister Paetongtarn Shinawatra’s visit to China in February, the leaders of both countries reached a significant consensus on cooperation across various fields, he said.
In the latter half of this year, even more important high-level exchanges are planned, he said. These will build on the foundation laid by President Xi Jinping’s successful visit to Thailand in 2022, when the two sides established the goal of building a community with a shared future, he said.
“China stands ready to work with Thailand to strive for an even brighter future for our peoples, deliver greater benefits to both countries, and inject more stability and positive energy into regional and global peace and prosperity amid today’s complex and turbulent world,” he said.