Planning for a New Future of High Quality Development in Sino Thai Economic and Trade Cooperation

On October 19th, the China Thailand Investment Forum, hosted by the China Council for the Promotion of International Trade and the Thailand Investment Promotion Commission, and co organized by Bank of China, the Thai Trade Institute, and the Thai Industrial Federation, was held in Beijing. About 200 representatives from government departments, business associations, and enterprises from China and Thailand gathered together.
Thai Prime Minister Seta attended the opening ceremony and delivered a keynote speech. President of the China Council for the Promotion of International Trade, Ren Hongbin, presided over the opening ceremony and delivered a speech. Thai Vice Prime Minister and Foreign Minister Ban Bi, Vice Minister of Commerce of China, Li Fei, Secretary General of the Thailand Investment Promotion Commission, Narat, Chairman of the Thai Institute of Trade, Hong Baichuan, and Chairman of the Thai Federation of Industries, Zhang Xueshan, among others, delivered speeches.
China has become Thailand's largest trading partner for 10 consecutive years. Last year, China became the largest source of foreign investment in Thailand. The two sides jointly promoted cooperation projects such as the China Thailand Railway and Rayong Industrial Park, actively expanded cooperation in emerging fields such as 5G, e-commerce, green and low-carbon. A number of Chinese enterprises in information and communications, equipment manufacturing, new energy and other industries invested and set up factories in Thailand. The joint construction of the "the Belt and Road" between China and Thailand has achieved fruitful results.  

In his keynote speech, Prime Minister Seta said that the "the Belt and Road" initiative promotes international cooperation in trade, investment, tourism, culture and other fields. Thailand is the central country of ASEAN, and is connected with the "the Belt and Road" region by land and sea. Promoting Thailand China economic cooperation and infrastructure is an important development opportunity for Thailand. "Last year, Thailand and China ushered in the tenth anniversary of the comprehensive strategic cooperative partnership. The two sides signed the Joint Action Plan for China Thailand Strategic Cooperation (2022-2026) and the Cooperation Plan for China Thailand Joint Promotion of the" the Belt and Road "Construction to provide guidance for promoting bilateral cooperation, which reflects the commitment and determination of bilateral strategic cooperation." Seta introduced the efforts made by the Thai government in trade, tourism, green economy, art and culture, education, and other aspects, as well as the next development plans and opportunities. He also stated that the Thai government will provide comprehensive support and convenience for Chinese investors and tourists.

Ren Hongbin stated that the China Council for the Promotion of International Trade (CCPIT) and relevant institutions in Thailand have been closely connected under the China ASEAN cooperation mechanism and multilateral mechanisms such as APEC and RCEP for many years, actively promoting practical cooperation in the business community and regional economic cooperation between the two sides, and achieving fruitful results. At the just concluded "the Belt and Road" Entrepreneurs Conference, Chinese and Thai entrepreneurs signed 9 practical cooperation projects, fully demonstrating the resilience and potential of bilateral economic and trade cooperation. This year marks the beginning of the second decade of establishing a comprehensive strategic partnership between China and Thailand. It is of great significance to hold the China Thailand Investment Forum and plan for the next phase of mutually beneficial cooperation. I hope that business friends from both countries can fully utilize this opportunity to deepen communication and exchange, consolidate cooperation consensus, and achieve more practical and fruitful results.
China and Thailand jointly promote the high-quality implementation of the Regional Comprehensive Economic Partnership Agreement, accelerate the negotiation of the 3.0 version of the China ASEAN Free Trade Area, continuously improve the level of trade liberalization and facilitation, and promote new progress in regional economic integration. We are more confident in the future of China Thailand economic and trade cooperation. Li Fei said that the Chinese Ministry of Commerce is willing to work with the Thai authorities to implement the important consensus reached by the leaders of the two countries, We will wholeheartedly serve the enterprises of both countries and work together with friends from the business community to promote deeper and more practical bilateral economic and trade cooperation, making greater contributions to deepening the comprehensive strategic partnership between China and Thailand.
As a destination for investment in high-tech industries, with the transformation of the economy and ecosystem, several key industries in Thailand, such as food and agricultural product processing, modern vehicles, and digital content, have become leading investment centers in Southeast Asia. "Bambi said in his speech that the Thai government is seriously committed to improving Thailand's future competitiveness through the transformation of biology, circulation, green, new energy vehicles The five strategic industries of high-tech electronics (upstream, intelligent electronics), digital and creative industries, and regional headquarters are all potential areas for China's investment in Thailand to transform Thailand. In addition to promoting strategic industries through policies, the Thai government is also committed to developing ecosystems and elements that support investment, such as expanding the industrial and advanced technology development economic zone, the Eastern Special Development Zone, and creating new special economic corridors in four regions of Thailand to provide tax incentives and other benefits to investors.
Narat focuses on promoting target industries in Thailand, enhancing competitiveness, maintaining and expanding production, re planning industrial bases, stimulating economic recovery, upgrading intelligent and sustainable development, promoting small and medium-sized enterprise investment, local based promotion measures, 9 new investment promotion measures to promote social and local development, and other new investment opportunities.
  Feng Yaoxiang, President of China Exhibition Group, introduced the first Chain Expo at the forum. At present, the recruitment work for the Chain Expo has been basically completed, with a total of about 390 leading domestic and foreign industry enterprises confirming their participation. China and Thailand have great potential for cooperation in digital transformation, intelligent innovation, and other areas. We sincerely invite friends from the Thai business community to visit and negotiate at the Chain Expo, expand cooperation, and seek common development, "said Feng Yaoxiang.
In the subsequent stage of enterprise docking, representatives of Chinese and Thai enterprises participating in the forum conducted docking and exchange around key and hot cooperation areas such as petroleum refining, food processing, agriculture, rubber, banking, securities, insurance, etc. The on-site negotiation atmosphere was warm.