China-Thailand market opening to accelerate! The two countries reached a consensus at this important meeting!

Sucha said that the meeting was co-chaired by him and Li Fei, Vice Minister of Commerce of China, and the two sides held consultations and discussions on important economic, trade and investment issues. Among them, the focus was on cooperation in the field of agricultural products. The Thai side expressed the hope that China would open its livestock and fruit product markets to Thailand, facilitate the transportation of Thai products to China, and promote cooperation in the field of intellectual property rights and hold product exhibitions.

At the same time, he also took this opportunity to invite Chinese investors to invest in target industries in Thailand, such as the electric vehicle industry. It is hoped that the two countries can promote cooperation in the field of e-commerce and benefit from the free trade agreements signed by the two sides, including the China-ASEAN Free Trade Agreement and the Regional Comprehensive Economic Partnership Agreement (RCEP).

In addition, he further stated that China has become Thailand's largest trading partner for 11 consecutive years. In 2023, the trade volume between China and Thailand reached 104.999 billion billion U.S. dollars, a year-on-year decrease of 0.22; and from January to May 2024, the two countries The trade volume reached 45.77 billion billion U.S. dollars, an increase of 4.24 percent year-on-year. At the same time, China is also the main export market for Thai products. Export products include fresh fruits, plastic particles, computers and parts, rubber products and cassava products, etc., while products imported from China include motors and parts, electrical appliances and parts, Chemicals, iron and iron products and auto parts.