Thailand set to woo investors from China, India
Thailand is planning to kick off free-trade negotiations with China and India in a bid to attract high-worth investors, the Thai Chamber of Commerce (TCC) said.
Sanan Angubolkul, chair of TCC and the Board of Trade, said Thailand has lost many economic opportunities due to the Covid-19 pandemic. In comparison, he said, other countries in the region like Singapore, Indonesia and especially Vietnam have adapted quickly and caught the attention of investors.
He said Thailand should target high-potential investors from China and India as both countries are huge markets. He said TCC has been discussing the potential of attracting investment from China under a coordination scheme called “Team Thailand Plus China”.
As for India, Sanan said TCC has discussed the subject with the Indian ambassador. Saudi Arabia is another country the TCC is eyeing to boost business.
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“A framework for cooperation with other countries will make Thailand more interesting to foreign investors. The more trade partners we have, the more advantage we gain,” the TCC chairman said.
Sanan also urged the government to expedite action on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). He said that if the country continues delaying the signing of the pact, it will lose trade opportunities to Vietnam, Malaysia and Singapore. (Related report: Thailand urged to join CPTPP trade pact soon)