Four Thailand-Hong Kong MOUs signed in Bangkok

BANGKOK, February 28 (TNA) - Hong Kong and the Thai government have signed four memoranda of understanding (MOUs) as part of the growing strategic economic partnership between the Hong Kong Special Administrative Region (HKSAR) and Thailand. Banjongjitt Angsusingh, Director-General of the Department of International Trade Promotion, under the Thai Ministry of Commerce, told journalists in Bangkok on Thursday that the four MOUs have been signed between a delegation of the Hong Kong public and private sectors and agencies under the Thai Ministry of Industry. HKSAR Chief Executive Carrie Lam has led a delegation of the Hong Kong public and private sectors to visit Thailand during February 27-28, during which the Hong Kong Economic and Trade Office (HKETO) has also been opened in the Thai capital. According to the senior official, the four MOUs include the first one between the Hong Kong Trade Development Council (HKTDC) and Innospace (Thailand), the second one between Hong Kong Cyberport and Innospace (Thailand), the third one between Ho & Partners Architects Engineers & Development Consultants Limited (HPA) and Innospace (Thailand) and the last one between HKTDC and the Board of Investment of Thailand (BOI), all aimed to exchange relevant information on investment opportunities between both sides, covering those on the joint development of Thailand's business start-ups and smart cities. The senior official acknowledged, meanwhile, that Hong Kong is Thailand's 5th largest investment source and 9th trading partner, with bilateral trade in 2018 standing at 12.56 billion US dollars and expected to further grow by 12 per cent year-on-year in 2019. The senior Thai official said that Hong Kong is also a major trading partner of the ASEAN Economic Community (AEC), with the total trade value of the two sides standing about 120 billion US dollars last year alone. (TNA)