Organized by the Asian-International Trade and Investment Association (AITIA), the fair aims to strengthen connections and boost trade, investment and cultural cooperation between Thailand and China and is expected to generate trade worth more than Bt500 million.
Wu Zhiyi, chairman of Asian-International Trade and Investment Association (AITIA) , notes that his association has joined hands with Thai and Chinese officials in hosting the eighth ACIEC 2018 at Hall 1 of Impact Muang Thong Thani.
Phusit Ratanakul Sereroengrit, deputy director general of Commerce Ministry’s Department of Business Development will chair the opening ceremony from 9.30am to 11am on November 16. Officials from Thai and Chinese government agencies including on the Thai side the Department of Business Development and the Office of Small and Medium Enterprises Promotion (OSMEP) and, from the Chinese side, from Zhumadian and Xuchang cities in Henan province, Lanzhou city in Gansu province, Nanchang city in Jiangxi province and the Guizhou Board of Investment will attend.
Highlights of the three-day event include the well-known “Lanzhou Lamian” cultural show from Lanzhou city, Gansu province, free retro photo shoots in a Thai village and three major seminars. Two of the seminars, “Thai-Chongren Trade and Investment Cooperation towards Asean Markets” and “Thai-Lanzhou Trade and Investment Cooperation” will be held on the opening day. The third seminar, “Know first, Prosper first and Attach knowledge towards Chinese Market”, is scheduled for November 17.
The event will also feature a free Investment Forum and Business Matching with Zibo city in Shandong province in the areas of agriculture and processed agricultural products, electricity and electronics, machinery, packaging and cosmetics and spa products. These will take place on November 17.
Phusit Ratanakul Sereroengrit, deputy director general of Commerce Ministry’s Department of Business Development, says that Sino-Thai relations are fraternal in nature and that the two countries have long and excellent ties. Trade has developed rapidly since the establishment of the ASEAN-China Free Trade Area, she noted, adding that Thailand’s geographical location at the centre at ASEAN has helped attract investors from China.
This has coincided with continuously increasing levels of Thai product consumption in China particularly in agricultural and processed agriculture products, the most popular of which are Hom Mali rice, mangosteens durians, mangoes and rubber pillows.
China is one of three most important markets for Thai exports with an export volume in 2017 of about Bt998 billion or 12.5 per cent of overall Thai exports. The list of exports confirms that agricultural and processed agriculture products including rubber, rice and tapioca have the biggest potential on the Chinese market and act as a driver of Thai exports.
Thailand, meanwhile, imports about Bt1,500 billion in products from China or about 20 per cent of overall imports. The major products include machinery, electrical appliances, iron and steel.
In conclusion, Phusit emphasized that the ACIEC 2018 is a propitious event that will promote trade and investment cooperation as well as strengthen relations between the two countries. It will also act as a bridge connecting trade, investment and culture between Thailand and China.
Wu, chairman of AITIA, added that the fair wouldshowcase products from more than ten Chinese provinces spread over the 5,000 square metres of the exhibition space. More than 1,000 Thai products that meet export standards from some 300 firms have been selected for the event. This fair is an important stage for Thai and Chinese businessmen to meet and get know each other, exchange opinions and share knowledge. In addition to the Thai products, more than 200 booths will be devoted to products with high export potential from neighbouring Laos and Cambodia to support and open business opportunities and connect trade and investment between Thailand and China as they move forward to expand trade to Asean markets.
It is expected that orders will exceed past years and reach Bt500 million and that the event will draw some 10,000 attendees. The fair is the only event that brings together the government sector, businessmen and members of the Chinese public, Mr. Wu concluded.