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Thailand boosts trade with China

Thailand’s Commerce Ministry recently signed a memorandum of understanding (MoU) to form a deeper trade partnership through a mini-free trade agreement (mini-FTA) between Thailand and China’s Yunnan province.
Thailand boosts trade with China ảnh 1Thai fruits - Illustrative image (Photo: thainews.prd.go.th)
Bangkok (VNA) - Thailand’s Commerce Ministry recentlysigned a memorandum of understanding (MoU) to form a deeper trade partnershipthrough a mini-free trade agreement (mini-FTA) between Thailand and China’s Yunnanprovince.

Phusit Rattanakul Sereeruengrit, director-general ofThailand’s Department of International Trade Promotion, said that the mini-FTAwill facilitate the expansion of cooperation in various industries includinglogistics and cross-border e-commerce.

Notably, Thailand, as a significant exporter of agriculturalproducts and essential foods, is expected to increase its export of fruits andprocessed foods to the Chinese market, said Phusit, adding that the agreementalso reflects the readiness of both the Thai and Chinese governments tocontribute to the economic development of both nations.

This is Thailand’s 8th mini-FTA and the country is eyingmore trade cooperation with minor cities after the previous mini-FTAs resultedin a significant growth of Thai exports.

Total trade in 2022 between Thailand and Yunnan reached 2.34billion USD, representing a year-on-year rise of 17.9%./.
VNA
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