THURSDAY, April 25, 2024
nationthailand

EEC stokes interest of US giants

EEC stokes interest of US giants

GIANT US companies have shown great interest in investing in the Eastern Economic Corridor (EEC), Deputy Prime Minister Somkid Jatusripitak said yesterday after meeting US Commerce Secretary Wilbur Ross, adding that the two nations would set up a committee to consider opening up the local market to US pork imports.

Somkid met Ross and American business people at Government House yesterday after Ross met on Wednesday with Prime Minister General Prayut Chan-o-cha. The Deputy PM told reporters that he and Ross talked about Prayut’s upcoming visit with President Donald Trump in the United States early next month.
Somkid said he told Ross that it was a wasted opportunity that although the two countries had a long-time relationship, it had cooled, with no formal meetings over the past three to four years.
Somkid proposed setting up a mechanism as a venue for strengthening future cooperation.
The only ongoing formal contact now in place is via the Asean-US committee, which is a regional framework of cooperation.
“I told the US side that we have been in a process of reform in many areas over the past three to four years,” said Somkid.
 “It is pity that we don’t have much contact with each other; there should be a mechanism for cooperation between Thailand and the US directly instead of contact via the regional forum.”
He proposed a mechanism where both sides cooperate on economic issues and every aspect of cooperation, he said.
Somkid said he tried to convince his counterpart that Thailand is ready to be the hub of Asean, and bring attention to the government-initiated EEC project to draw large investments and boost the economy.
Somkid invited Americans to invest more in Thailand and strengthen cooperation in trade, education, science and technology.
He said he had also invited business people who accompanied Ross to invest in infrastructure projects in the EEC.
He seemed to get the attention of at least some of the executives.
Jon E Huenemann, vice president of General Electric, was interested in investing in the rail system and train locomotives, and Mark Kaufman, president of Ford Asean, was interested in investment opportunities in electric-car production here, said Somkid.
During the US trade tour, Somkid expects to meet with executives representing three to four US companies and will discuss investment opportunities with them.
Asked whether the two sides had discussed about open markets for US pork, Somkid said they agreed to set up a committee to look into it. “So far there is no pressure from the US to open the pork market,” he said. 
Executives representing Boeing, Phillip Morris, and Chevron Asia-Pacific Exploration and Production, also joined the US delegation, according to an informed source. 
Ross said that his two-day trip had been successful, pointing to his meetings with Prayut, Somkid, and Thai business leaders interested in doing business with American investors.
He also said he was impressed that his delegation had paid tribute to the late King Bhumibol Adulyadej.
Ross added that he was delighted to visit the Grand Palace and would tell US citizens to visit Thailand as the country has many popular tourist destinations.
 

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