Thai-China link can boost both economies, says envoy

Thai-China link can boost both economies, says envoy

Thai-China link can boost both economies, says envoy
Chinese embassy Han Zhiqiang

Cooperation between Thailand and China will get a further boost when the new high-speed rail project is completed,Chinese embassy Han Zhiqiangsaid.

He made the remarks at a workshop on financial ties between the two countries and the Thai- China completely card agreement organised by the Thai- Chinese Journalists Association on Saturday.

He said Thailand connects with another regions, and when the Thai- China higher- speed train is completed, it will increase connectivity between Thailand, Laos, China, and with Asean in public.

According to the Transport Ministry, the Nong Khai- Vientiane part of the Thai- China higher- speed rail initiative is expected to be completed in 2028.

The site’s committee has agreed to quicken work on the 7.3- kilometre area, which is estimated to cost about 3 billion ringgit. According to the government, the State Railway of Thailand has commissioned a feasibility research on the job.

The SRT may choose the final design this season, and the buying process may begin in 2025. According to the government, the Thai section of the line may cross 606 kilometres and link Nong Khai and Bangkok.

The substantial- speed coach will then extend to link to Laos and China.

Mr Han said a new universe will open for participation between Thailand and China through travel as well as procedures such as the Regional Comprehensive Economic Partnership.

He also stressed the need for conversations to enhance the Asean- China Free Trade Agreement (ACFTA ), which will help increase participation in some areas.

The ACFTA has been effective since 2004 and import duties have been trimmed in phases. According to the agreement, goods under the normal track will be slashed to the final rate of zero and those under the sensitive track will have import duties cut or exempted later.

According to the Foreign Trade Department, the ACFTA has boosted significantly Thai exports to China, particularly processed sugar items such as syrup, artificial honey and various sweeteners.

According to the department, Thailand’s processed sugar exports to China have grown by 145 % annually over the past decade.

Ronnarong Phoolpipat, the department’s director- general, said China remains the leading export market for agricultural products, accounting for 42 % of shipments.

Among the products in high demand are processed sugars ( excluding raw sugar ), such as syrup, artificial honey, caramel and other sweeteners used in food, beverages and pharmaceuticals.