Accelerating GDP growth by attracting 140 Chinese businessmen to invest in Thailand

Bangkok: "Bhoomtham" used the RCEP Business Opportunities Matchmaking (China-Thailand) meeting to fully support all aspects to facilitate trade and investment from China, hoping to stimulate GDP, drawing in 140 Chinese businessmen to invest in Thailand to support. BOI uses the RCEP agreement to make Thailand a center for trade, services, logistics, and expanding exports. Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce Chaired the opening ceremony of the RCEP Business Opportunities Matchmaking (China-Thailand) conference at the Shangri-La Hotel, Bangkok, inviting over 140 potential Chinese businessmen in 10 economic sectors from 60 associations to invest in Thailand. Take advantage of the RCEP free trade agreement (Regional Economic Partnership Agreement) to increase the economic value of the country's GDP. The Thai government is ready to support and facilitate the private sector. Thailand and China will have close relations next year (2025) that will mark the 50th anniversary of the Thailand-China Strategic Cooperation Partnership. China has been Thailand's No. 1 trading partner for the past 12 years. Two-way trade has reached a value of US$105 billion. Accounted for 18 percent of Thailand's total trade value. which continues to grow from FTA agreements, especially RCEP, of which China is the main driving force and RCEP is the largest FTA in the world, and Thailand-China is also a member under the ASEAN-China Free Trade Agreement (ACFTA). that is in the process of being upgraded to modern The reporter stated that At the event was Mr. Phinit Jarusombat, former Deputy Prime Minister. Chairman of the Thai-Chinese Cultural Council and promote relations, Mr. Wu Zhiwu, Chinese Ambassador to Thailand, Mr. Xu Ningning, Chairman of RCEP Industry Cooperation Committee (RICC), Mr. Wutthikrai Leeviraphan, Director-General of the Department of Intellectual Property, Ms. Chotima Iamsawadikul Director-General of the Department of International Trade Negotiations, Mr. Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand Thai and Chinese public and private sector executives More than 140 business people from all over China in 10 economic fields from 60 associations and more than 300 Thai business people participated. Thailand's total trade with RCEP countries in 2023 will total USD 312 billion. Accounting for 54.41 percent of Thailand's total trade with the world. Thailand exports to RCEP countries valued at more than 145 billion US dollars. Currently, Thailand has 14 FTA agreements with 18 countries, including the RCEP agreement, which is currently considering the process of accepting new members. which currently have independent customs countries/areas Expressing intent to join the agreement, including Hong Kong and Sri Lanka and is in the process of establishing the RCEP Agreement Unit (RCEP Supporting Unit: RSU) with the goal of starting operations within the year. 2024 etc Source: Thai News Agency