Eastern promise proves tempting for Thai investors
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Eastern promise proves tempting for Thai investors

Srettha government not alone in courting superpower's businesses, writes Aekarach Sattaburuth

From left President of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a Brics family photo during the 2023 Brics Summit in Johannesburg, South Africa in August. Pool via REUTERS
From left President of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a Brics family photo during the 2023 Brics Summit in Johannesburg, South Africa in August. Pool via REUTERS

China has become one of the world's leading countries in advanced technology and economic power, according to Pinit Jarusombat, president of the Thai-Chinese Cultural and Relationship Council (TCCRC).

"On the occasion of the National Day of China on Oct 1, this year also marks the 74th anniversary of the founding of the People's Republic of China," Mr Pinit said. "I think China has succeeded in developing every aspect of the country."

He told the Bangkok Post that China has shown its potential to become one of the most powerful countries in terms of global economy and security. An example of this is China's joining of the Brics bloc (Brazil, Russia, India, China and South Africa) to counter the influence of the United States and countries in Europe, he said.

Bric (without South Africa) was created in 2001, with the hopes that the four countries would dominate the global economy by 2050, he said. South Africa was added to the list in 2010, he said, adding Brics operates as a loose organisation that seeks to further economic cooperation among member nations and increase their global standing, in contrast to Western powers.

Brics nations have offered to become a source of foreign expansion for firms with strong returns for institutional investors, he said.

Mr Pinit said in terms of power, the world no longer only has the US and Europe. These days, many countries must remain on good terms with China, especially in relation to its Belt and Road Initiative, which aims to drive trade, investments and culture across regions, he said.

Today, even the Chinese language is popular among people, particularly in African countries and Thailand, he said.

This year's National Day celebration will mark China's progress in tackling past issues, such as poverty and starvation, and in becoming one of the world's leading countries, praising the leadership of founder Mao Zedong and current President Xi Jinping, he said.

In its prosperity, China has also provided a variety of assistance to many underdeveloped countries in Asia, the Middle East, Africa and South America, he said.

Therefore, China has played an important role in promoting the global economy, and its policies tend to have a wide international impact, he said. Its large population also impacts the consumption trends of many products, he added.

Over the 74 years since its founding, basic infrastructure in China has significantly improved, Mr Pinit said. China now has a 20,000 km-long high-speed railway and an expressway network of almost 50,000km, he said.

In terms of human resources, China has always attached importance to education, as it believes education plays a key role in shaping the future of its new generation of people of at least 4–5 million per year, he said.

Due to the US-China trade war, the US banned the exports of chips and software to Chinese technology giants, but China retaliated by manufacturing a 7-nanometre chip, he said.

"Now, we must look to the future of China as a country that has surpassed many leading countries in technology, including electric cars," Mr Pinit said.

TCCRC's mission

Asked about the promotion of Thai-China relations via the TCCRC, Mr Pinit said the council first established ties with China in 1976 with cooperation from the Chinese government and the private sector.

The TCCRC has also cooperated with China to host a number of events with state officials every year to promote both Thai tourism and exchanges of culture and trade, he said.

He said his association has taken part in helping the Thai government promote the One Tambon One Product and Thailand's small and medium-sized enterprises in many Chinese provinces.

In the future, the TCCRC will help the government organise a roadshow to promote Thai products and art in Shanghai, he said.

When it comes to tourism promotion, Mr Pinit said relevant state agencies and members of the private sector must help the government come up with new and effective ideas on how to attract more Chinese tourists to visit the country every year.

He said he agrees with the government's visa-free policy for Chinese tourists as they are more likely to go on long holidays during National Day and Chinese New Year.

Thailand's role

According to the experts, Thailand must tighten its cooperation with China and its Asean and Greater Mekong neighbours, and Mr Pinit agrees.

"We should change the way we see China because of its advancements in technology and elevated education," he said.

"Thailand must be friendly with every country and act as a centre network to promote reconciliation."

Asked about the new government's positive stance on China, Mr Pinit said Prime Minister Srettha Thavisin and Foreign Affairs Minister Parnpree Bahiddha-Nukara are competent people who understand the ins and outs of China.

The government should work closely with Beijing to promote Thai exports in China, he said.

"The government must closely work with China to promote [agricultural] products, as well as tourism between the two countries," he said.

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