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The 2022 Thailand Shopping Carnival is celebrated in Nanning, China, July 15, 2022. /CFP
China's economic rebound is poised to have a favorable impact on the Association of Southeast Asian Nations' (ASEAN) development, and upgrading the China-ASEAN Free Trade Area (FTA) could offer additional gains to the region, according to a senior Thai official.
Auramon Supthaweethum, director general of the Department of Trade Negotiations under Thailand's Ministry of Commerce, said China is a crucial trading partner for both Thailand and ASEAN.
Thailand is prioritizing negotiations to upgrade the China-ASEAN FTA, anticipating that it would benefit Thailand and ASEAN countries, said Auramon.
Auramon noted that China's Belt and Road Initiative has resulted in an ASEAN network of infrastructure projects, including the China-Laos-Thailand railway, which allows access to low-cost raw materials and enhances business opportunities for Thai firms in the service and tourism industries.
Thailand prioritizes cooperation with China in e-commerce, she said, adding that it also intends to expand its investment cooperation with China, with a focus on the Eastern Economic Corridor.
In November 2022, China and ASEAN jointly announced the official launch of negotiations. The two sides agreed that the talks would cover fields including trade in goods, investment, and the digital and green economy, so as to build a more inclusive, modern, comprehensive and mutually beneficial China-ASEAN FTA.
The first round of consultations on Version 3.0 of the China-ASEAN FTA negotiations started on February 7.
(Source: Xinhua with edits)
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Disinformation report hotline: 010-85061466