Thailand, China to cooperate in five new areas to drive growth

PUBLISHED ON Oct 7, 2016

After Thailand and China agreed to continue the five-year economic development plan covering the original 14 areas from 2017-2021, they are tightening the cooperation through the five new additions.

They believe that driving the sectors by innovation and technology promotes sustainable development.

Suvit said that as the government had come up with the “Thailand 4.0” policy, the cooperation with China would help stimulate innovation and technology development here.

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During the meeting in Bangkok, the two countries also discussed deepening trade and investment. Thailand urged China to import more crops, mainly rice and rubber, under a memorandum of understanding.

The Kingdom has also encouraged the Chinese government to allow the import of bird’s nests from Thailand.

The two countries discussed reducing tariff barriers to drive trade and investment for both countries.

China has shown a lot of interest in investing in Thailand’s proposed special economic zones and the Eastern Economic Corridor.

The other 14 areas of cooperation include trade facilitation, innovation and green technology, academic support, intellectual-property rights, and small and medium-sized enterprises.

Some other areas are agriculture, industry (textiles and garments, machinery and electronics) and automobiles.

Source:The Nation