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China has been Thailand’s number one trading partner for the past 10 years.
Data from the Department of International Trade Negotiations shows that the value of trade between Thailand and China, Thailand's number 1 trading partner, in the first 5 months of 2022
China is Thailand’s number 1 trading partner.
Data from the Department of International Trade Negotiations shows that the value of trade between Thailand and China in the first 5 months of 2022 (January – May 2022) was as high as 44,621 million US dollars or more than 1.6 trillion baht, an increase of 9.2% compared to the same period last year.
The value of imports from China in 2021 was worth 66,546 million dollars or more than 2.39 trillion baht. The main products imported from China are electrical machinery and components, electrical appliances, machinery, and circuit boards and chemicals. In terms of exports to China, the value of exports was 37,204 million dollars or more than 1.33 trillion baht. The main export products are fresh fruit, chilled, frozen and dried fruit, cassava products, followed by plastic pellets, computers and components.
Recently, there was a meeting at the level of the Thai-Chinese Deputy Ministers of Commerce, which was a negotiation between Mr. Li Fei, Assistant Minister of Commerce of China, and Mr. Sinith Lertkrai, Deputy Minister of Commerce. There was a discussion on economic, trade, and investment issues between each other, which will help push forward important issues such as opening the Thai product market to China, accelerating the construction of a fruit inspection yard at the Mohan Railway Checkpoint, and requesting the Chinese government to relax measures on chemical fertilizer exports so that Thai farmers can import fertilizers from China faster, including preparations for the meeting of the Thai-Chinese Joint Committee on Trade, Investment, and Economic Cooperation (JC) at the Deputy Prime Minister level.
In addition, they discussed cooperation in other economic areas, such as tourism after the COVID-19 situation improves, promoting the use of satellites, and inviting Chinese investors to invest in Thailand, especially in the Eastern Economic Corridor (EEC).
China is ready to provide support and has assigned relevant agencies to discuss further details on the following issues: 1. Opening the Thai product market to China: bird’s nests, live beef, dates, salak, and purple passion fruit; 2. Accelerating the construction of a fruit inspection yard at the Mohan Railway Checkpoint, the China-Laos railway connection point, to help ease traffic congestion at the Youyiguan Checkpoint, the main checkpoint for importing fruit overland from Thailand.
For this cooperation, both parties jointly considered setting new trade targets and drafting a 5-year joint action plan between Thailand and China (2022-2026). Thailand prioritizes cooperation in trade facilitation, intellectual property, and tourism. The results of this meeting will be expedited for consideration and action to produce tangible results as soon as possible.
Source: thairath.co.th
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