Thailand and China have agreed to double their bilateral trade to 120 billion USD in the next five years from an estimated 60 million USD at the end of this year.
Meeting between Thai Deputy Prime Minister Somkid Jatusripitak and Chinese State Councilor Wang Yong (Source: bangkokpost.com)
Bangkok (VNA)༒ - Thailand and China have agreed to double their bilateral trade to 120 billion USD in the next five years from an estimated 60 million USD at the end of this year.
The target was unveiled by Thai Deputy Prime Minister Somkid Jatusripitak after his meeting with visiting Chinese State Councilor Wang Yong on December 17.
Investments from China, particularly in railway projects, are expected to help strengthen the economic ties between two countries, the Thai Deputy Prime Minister was as saying by Vietnam News Agency correspondents.
Two-way trade is estimated to hit 60 billion USD this year and to 70 billion USD in 2016.
The same day, the People’s Bank of China (PBOC) announced that Thai investors are allowed to pour up to 50 billion yuan (7.7 billion USD) in Chinese financial markets, aiming to bolster bilateral trade and investment.
According to the PBOC, qualified Thai investors will land investment under the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme, which allows financial institutions to use offshore yuan to purchase securities in mainland China.
The Bank of Thailand also issued a statement on the matter, regarding this as a milestone in the increasing trade and investment relations between Bangkok and Beijing.
State Councilor Wang Yong travelled to Thailand to attend the launching ceremony of the China-Thailand railway cooperation project scheduled on December 19 and co-host the 4th Meeting of the Thailand-China Joint Committee on Trade, Investment and Economic Cooperation with Thai Deputy Prime Minister Somkid Jatusripitak from December 16-20.
Two countries’ relations have seen stellar development in recent years. In 2013, China surpassed Japan to become Thailand’s largest trade partner. Thailand expects to welcome 10 million tourists from China in 2016 after reporting a record number of 7.9 million visitors this year.-VNA
Thailand and Cambodia have agreed to foster trade and investment along their borderline at the fifth meeting of the Thai-Cambodian Joint Trade Committee.
Cambodian Prime Minister Hun Sen will pay an official visit to Thailand on December 18-19 and co-chair the two countries’ joint cabinet meeting, according to the Thai Ministry of Foreign Affairs.
The fifth strategic dialogue between Thailand and the US took place in Bangkok on December 16 to discuss bilateral cooperation and regional issues of mutual concerns.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
Meeting between Thai Deputy Prime Minister Somkid Jatusripitak and Chinese State Councilor Wang Yong (Source: bangkokpost.com)
