On July 30, 2024, Deputy Commerce Minister Suchart Chomklin led a Thai delegation at the 3rd “Thai-China Sub-Committee” meeting in Bangkok. The primary objective of this meeting was to enhance trade relations between Thailand and China, focusing on expanding market access for Thai agricultural products and improving logistics for transporting goods between the two countries.
The discussions, co-chaired with China’s Deputy Commerce Minister Li Fei, centered on several key areas. These included increasing market access for Thai livestock and fruits, promoting intellectual property rights, and organizing joint trade exhibitions. The meeting highlighted the need to boost investment from China into Thailand’s strategic sectors, particularly the electric vehicle industry and e-commerce.
The delegates also underscored the importance of fully leveraging existing free trade agreements, such as the ASEAN-China Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP), to enhance economic exchanges. This is especially crucial given that China has been Thailand’s largest trading partner for over a decade. In 2023, bilateral trade approached 105 billion US dollars, despite a slight decrease compared to the previous year.
Recent trade statistics show a positive trend, with a 4.24% increase in trade between Thailand and China during the first five months of 2024. Thailand’s key exports to China include fresh fruits and rubber products, while the country’s imports from China are primarily electrical machinery and chemicals.
Deputy Commerce Minister Suchart Chomklin, representing Deputy Prime Minister and Commerce Minister Phumtham Wechayachai, concluded the meeting by inviting Chinese investors to explore opportunities in Thailand’s emerging sectors, emphasizing the ongoing commitment to strengthening economic ties between the two nations.
