China Deepens Cooperation with Thailand Through Maritime Silk Road Initiative
Thailand and china are enjoying a rewarding trade and economic cooperation in the past ten years with the country’s biggest trade partner and top tourist source. This year is the 40th anniversary of the establishment of diplomatic ties and Country of Honor at the 12th China-ASEAN Expo in which Thailand pulled all the stops to showcase its trade and economic potential. According to Tanasak Patimapragorn the deputy Prime Minister of Thailand said that he is a big fan of China and has been in the country over 30 times and will still visit in the future.
Transportation, communication and cultural exchanges with neighboring regions are important to Thailand as the government implemented many policies to promote more cooperation with overseas companies in the expressway, railway and ocean freight industry. Also Thailand will play a more active role in the Greater Mekong river regions projects in the hopes to improve trade efficiency and increase the production capacities as China’s proposed Belt and Road Initiative shares the same goals with Thailand national development plans.
Thai government is hoping that the investment from China helps develop clean energy and boost innovations while assisting in the ASEAN economic integration. Marine cooperation is also considered an important force and highlights the stable and healthy development of the China and Thailand relations. Experts say that the 21st century Maritime Silk Road serves as a platform for China and Thailand in cultivating a more productive relationship. For the China-Thai economic and trade cooperation to take a new level, around 200 enterprises participated in promotions during the 12th China-ASEAN Expo where Thailand gave more incentives to those investments in small and medium sized enterprises that supports the research and innovation for it overall growth, investment in the environmental industry that promotes sustainable development and investment in border areas that supports the process of the ASEAN economic integration.
Several Chinese enterprises are also welcoming investments from Thailand since the Thai Government formulated preferential policies. Possible investors are seizing the business opportunity to find fortune in Thailand. While Thailand commitment to the 21st Century Maritime Silk Road and their willingness to deepen ties and cooperation with China shows the confidence in clean energy companies in entering the Thai energy market.