Trade missions eye wider export footprint in China
SINCE CHINA HAS become the single largest export market for Thailand this year, the Commerce Ministry is moving to seek trade with more cities on the mainland while also using China as a springboard to the Commonwealth of Independent States (CIS), Russia and Europe.
“The Thai government will send trade missions to China this May to seek trade and investment opportunities.
“One of the cities in focus is Tianjin, which has potential while a having a port that could be a springboard for Thai products to penetrate Russia, CIS and Europe,” Commerce Minister Apiradi Tantraporn said.
After meeting with Thai trade officers in China recently, she said the ministry will strongly promote trade and investment with China since the market has played a significant role in Thailand’s commerce.
In January, China became the single largest market for Thai exports, accounting for 12.6 per cent of all outbound shipments.
Exports to China increased dramatically in that month by 30.8 per cent to US$2.14 billion (Bt75.6 billion).
Apiradi will lead a trade mission to Tianjin in May.
Tianjin is an emerging economy within China. It is home to a large population of 15.17 million with gross domestic product galloping at 12 per cent a year on average. Average income per capita has risen by 10 per cent a year.
Transportation system
The Chinese government has allocated a budget equivalent to Btt1.28 trillion to develop a transportation system from Beijing to Tianjin. This is part of the Supercity project ending by 2030.
If the project is completed, Tianjin will play a more significant role in China’s economy.
Tianjin is also a harbour city whose marine routes link to more than 180 countries worldwide. Some 600 million tonnes of goods pass through Tianjin Port, making it the third busiest harbour in China.
Tianjin will be a strategic route for reaching Russia and CIS countries under the Chinese government’s Silk Road economic road policy.
Many products from Thailand could penetrate Russia, the CIS and Europe, including consumer goods, food, steel, garments, |furniture and beds, sugar, paper and crafts, fish and seafood products.
