China, Thailand trade, investment expected to steadily expand

BANGKOK, December 17 (TNA) - Deputy Prime Minister Somkid Jatusripitak has expressed his optimism that trade and investment between China and Thailand should steadily expand. Somkid’s optimistic view was aired at the Thai– Chinese Business Forum 2015, jointly organised by the Board of Investment of Thailand (BOI) and the Ministry of Commerce in Bangkok on Thursday on the occasion that China’s State Councilor Wang Yong is leading a Chinese delegation for a four-day meeting on Sino-Thai economic cooperation this week, starting from December 16. Delivering his speech at the opening session of the seminar, Somkid pointed out that trade and investment between China and Thailand have continued rising steadily over the past decade, with total value now standing at more than 60 billion US dollars. Somkid said although Thailand faced political turmoil more than two years ago, the normal situation is now restored in the country and nearly 30 million international travellers have visited Thailand this year. The deputy premier acknowledged despite a global economic slowdown, the Thai economy remains strong with international foreign exchange reserves standing as high as 157 billion US dollars, short-term external debts amounting to 55 billion US dollars, public debts accounting for 43 per cent of the country's gross domestic product (GDP), as well as a low inflation and an unemployment rate of only 0.9 per cent of the total population. Because of the government’s economic stimulus measures, the deputy prime minister noted, the Thai economy has started growing since the third quarter of this year by 2.9 per cent, compared to 0.9 per cent in the corresponding period last year, with positive signs of its continual expansion in the fourth quarter of 2015 and early 2016. The deputy prime minister projected that the Thai economy should expand by 2.9–3 per cent on average this year and by 3.5–4 per cent on average next year. According to the deputy prime minister, Thailand hopes that China will co-invest in 10 local industries in line with the Thai government’s policy. The deputy prime minister stressed that Thai Prime Minister General Prayut Chan-ocha has planned to hold a new general election in 2017. (TNA)