Thailand, China plan to double bilateral trade in next three years hinh anh 1Illustrative photo (Source: Internet)

Bangkok (VNA) - Thailand and China will form a joint committee to remove trade barriers between the two nations in order to lift two-way trade to 120 billion USD in the next three years, nearly doubling the current figure of 67 billion USD, Thai media reported.

 

As scheduled, leaders of the two commerce ministries will discuss strategic issues that affect bilateral trade ties in all respects at the 6th Meeting of the Thailand-China Joint Committee on Trade, Investment and Economic Cooperation in Thailand in February.

According to Thai Minister of Industry Uttama Savanayana, the Thai government has planned to attract Chinese investors in projects in the Eastern Economic Corridor (EEC) area.

Investment promotion programmes will be mapped out in line with China's One Belt, One Road initiative, he said.

The government wants to propel the country's economy towards Industry 4.0, which aims to upgrade the industrial sector through the use of high technology, he added.

On January 15, Thai Deputy Prime Minister Somkid Jatusripitak held a working session with officials from the Thai Ministry of Industry to debate ways to lure more investments in the EEC area.

The flow of investment into the area is hoped to increase the country’s economic growth by 5 percent in the next five years, helping Thailand escape the middle income trap.-VNA

VNA