China's change in investment direction benefits Thailand

BANGKOK, June 17 (TNA) - China is changing its investment direction, which will create opportunities for Thailand. Amparwon Pichalai, Director of the Trade Policy and Strategy Office, under the Thai Ministry of Commerce, told journalists on Tuesday that China is directing more investment projects to the Association of Southeast Asian Nations (ASEAN), which will make Thailand its door to the 10-member ASEAN bloc. Amparwon acknowledged that China has started to play more roles in ASEAN and become leading trading partners of all ASEAN members, especially Thailand, pointing out that the value of two-way trade between Thailand and China amounted to 457 billion US dollars last year, a 10.2 per cent year-in-year increase. Amparwon said China has emphasized on logistics and the networking of roads and high-speed railways. According to the senior official, international investors are eyeing Sihanoukville, an important industrial location and port in Cambodia, but the Cambodian port city may not be now ready to support large-scaled investment due to its many limitations, which should be a good opportunity for Thailand to develop a special economic zone with Cambodia near Khlong Luek area in Trat Province in the Thai East. The senior official noted that Thailand can import cheap labor from Sihanoukville and will, thus, attract Chinese investors. The senior official also proposed that Thailand build double track railways to connect to China's high-speed railways to facilitate exports to China. The senior official also assessed that the opening of cargo high-speed trains between China's Chongqing and the Chinese-Lao border should considerably boost trade between ASEAN and China. The senior official noted that the rapid growth of Chinese urbanization and Chinese households' purchasing power would benefit Thai products, including electronic and electrical products, automobiles, furniture, home decorations, ornaments and processed food, as well as tourism, while close connection with the Chinese market would create plenty of opportunities to Thailand. (TNA)