Kun Ming Aug 17- Ministry of Commerce Adjust the policy to penetrate the market deeply to secondary cities especially important provinces in China Through the recent Memorandum of Understanding on Trade Cooperation or Mini FTA (Mini FTA), Thailand was able to make a new Mini FTA with Yunnan Province, the 8th edition of Thailand, hoping to use this forum to speed up exports in the country. This year began to slow down in line with economic conditions in major trading partners.
Mr. Phusit Rattanakul Sereereungrit Director-General of the Department of International Trade Promotion (DITP) led the delegation to visit Kunming City, Yunnan Province, People’s Republic of China. between 16-18 August 2023 to expand in-depth cooperation in all dimensions and emphasized the close relationship between the two countries Through a strategic partnership (Strategic Partnership) that goes deep into the market of key cities of partner countries, known as “Mini FTA”.
However, today (Aug. 17), the Department of International Trade Promotion signed a Thai-Yunnan Mini FTA with Mr. Li Chen Yang, Director-General of the Yunnan Provincial Department of Commerce. to expand new cooperation in a variety of industries such as agriculture and food electric vehicle industry Smart electronics industry green industry and high-value medicine and health, while Thailand, which is an exporter of agricultural and food products especially premium fruits will be able to enter the Chinese market more And there is also an opportunity to expand the market in the automotive group. electronic components and more creative industries
In addition, as well as investment in Thailand. It is ready to support a lot of investment. Because Thailand has the best infrastructure in the region. There is a supply chain to support production. and strong domestic consumption That can take advantage of cooperation to attract Chinese investors to invest in Thailand. Therefore, the Mini FTA with Yunnan Province is the 8th of Thailand and the 4th with the People’s Republic of China. from before Made in Hainan, Gansu and Shenzhen, the remaining four were made in Kofu, Japan, Busan and Gyeonggi, South Korea, and Telangana, India.
Mr. Phusit said that Yunnan Province is the province that is located closest to Thailand. If using the R3A route, it will take only 4-5 hours to reach the Thai border where goods can be transported via land. Before (2021), in terms of economic size, the GDP in 2022 totaled more than 2 trillion yuan, expanding by 4.3%, and is a gateway connecting western China to Southeast Asia. and Asia as well
“Continuing a mini FTA with China like this. even in the short term There will be no clear export figure of how much the growth rate has increased. But believes that in the long run, the trade value under the framework will increase and result in an increase in the total value of trade between Thailand and China. If you look at Thai products that have come to the Chinese market in the past, they have come to expand the market every year. Especially fruits such as durian and many others. In Yunnan Province, there are more than 50% of Thai products that have already entered the market, whether it is food, vegetables, fruits, processed foods, even Thai herbal products, ”said Phusit.-Thai News Agency
Source: Thai News Agency