British private sector keen on aviation, petrochemicals in Eastern region

The meeting on April 24-25 of 65 Thai and British business leaders was on enhancing bilateral trade. The British private sector then expressed interest in investing in aviation and petrochemicals in the Eastern Economic Corridor.
Tevin Vongvanich, chairman of the Thai part of the council, said the two countries had pushed for more investment through the establishment of the three working groups.
One of the working groups, on technology, innovation and investment opportunities, aims to promote the “Thailand 4.0” policy for the 
 Eastern Economic Corridor of Innovation (EECi). Rolls-Royce and PTT Global Chemical are the leaders of this group.
Earlier, there was cooperation in several projects extending from development of a maintenance, repair and overhaul complex at U-tapao 
 International Airport, which is a part of the EEC project, to a Rolls-Royce engine research and development centre. 
This group aims to provide opportunities for investors to access information and directly coordinate with the government, said Tevin, who is also chief executive officer and president of PTT. 
Another working group involves facilitating business operations through discussions and exchanges of demands among both countries’ businesspeople and investors, focusing on work permits in Thailand. The British Chamber of Commerce and Thai Chamber of Commerce are the leaders of this group. 
While work permits are a thorny issue for investors in Thailand, the same is true in the United Kingdom, Tevin said. Thai investors have held direct discussions with the British government to clarify labour problems and to express concerns about the UK’s intention to leave the European Union.
The third working group promotes business opportunities by exchanging information on existing operations and seeking more trade. Tesco Lotus and Bangkok Bank are the group leaders, with a focus on the UK’s import quota on meat.
The April meeting was the second after the first in October of last year. The date of the upcoming meeting in the second half of this year has not been announced.
The Business Leadership Council was established last year to promote the Thai and UK governments’ policies for more bilateral trade and investment and increase opportunities for cooperation among small and medium-sized enterprises through alliances and business development.
At last month’s meeting, British Secretary of State for International Trade Liam Fox acknowledged the council’s performance. He said that after the British election scheduled for June 8, the long-time Thailand-UK trade relationship would continue, while the UK will focus more on Asian market. The council will be one of the mechanisms promoting cooperation and economic enhancement.