Thai, Chinese agricultural futures markets join forces

BANGKOK, June 3 (TNA) - Thai and Chinese agricultural futures markets have signed an agreement on cooperation on further developing knowledge and market potential and raising the prices of Thai and Chinese farm products. The agreement between the Agricultural Futures Exchange of Thailand (AFET) and the Zhengzhou Commodity Exchange (ZCE) in China's Henan Province was signed in Bangkok on Monday, aimed to enhance their capacities, improve their businesses to international standard, develop futures exchanges of Asia and raise the prices of farm products of both countries. AFET Chairman Prasat Kesawapitak told journalists that the agreed cooperation will not only develop knowledge on trade systems, but it will also streamline trade between the Thai and Chinese agricultural future markets. ZCE President Zhang Fan acknowledged, meanwhile, that Thai and Chinese operators will benefit from the cooperation, as China is a large-scaled buyer of several Thai farm products, including rice, natural rubber and cassava. According to the ZCE president, he considers the agreed cooperation a good opportunity because the market of buyers is connected to the market of sellers. (TNA)