Wednesday, March 29, 2023

Thailand and China to Expand Free Trade Agreement (FTA)

Thailand has been stepping up trade cooperation with China by upgrading the Free Trade Agreement (FTA) between China and ASEAN, including expanding mini FTAs with Chinese cities and provinces, Deputy Prime Minister Jurin Laksanawisit has said.

Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit made the announcement at the Thai-Chinese Chamber of Commerce on Wednesday (22 Feb).

Mini FTAs between Thailand and Chinese provinces

Minister Jurin said the two countries enjoy practical cooperation under mechanisms including the Regional Comprehensive Economic Partnership (RCEP) and mini FTAs between Thailand and Chinese provinces such as Hainan and Gansu.

He further noted that the Thai side has asked to expand the Thai-Hainan Mini FTA with success seen in negotiations over the sales of goods and joint training sessions for business operators from Thailand and Hainan.

The commerce minister added that this resulted in the bilateral trade value rising by 91.9% in 2022 to 18.2 billion baht (~US$527 million).

China was the largest trading partner of Thailand in 2022

The press conference also…

Thailand and China to Expand Free Trade Agreement (FTA)

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Thailand Business News is a comprehensive news service about Thailand with a business and financial perspective edited in Bangkok by Siam News Network


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