Deputy PM is happy with the arrival of foreign investors

BANGKOK, Aug 4 (TNA) -- Deputy Prime Minister Somkid Jatusripitak who supervises economic affairs is satisfied with foreign investors’ arrival to discuss potential investment in Thailand. He said this after meeting with Julie Bishop, Australian Minister for Foreign Affairs and deputy leader of Australia’s leading Liberal Party. Mr Somkid said that Thailand and Australia had refrained from serious discussions for 3-4 years and both sides should increase their talks on trade and investment. He expected both countries to expand their free trade agreement to cover education and other items. Australia had high potential in agriculture and could help Thailand develop its farming technologies, Mr Somkid said. He also said that Thailand was interested in the Trans-Pacific Partnership (TPP) but would like it to relieve conditions for developing nations. Thailand was also eager to join the Regional Comprehensive Economic Partnership (RCEP) as it was a gateway between Asian nations and Asia-Pacific countries, Mr Somkid said. That was the reason why many foreign investors were discussing investment plans in the Eastern Economic Corridor, he said. Australia and Thailand are the 8th biggest trading partner of each other. Their trade has grown three folds since they signed their free trade agreement in 2004. Last year their trade value amounted to US13.74 billion and Thailand posted a trade surplus of US$6.87 billion. This year Australian operators in livestock development, agricultural, mining, petroleum exploration and beverage sectors are applying for investment privileges in Thailand. (TNA)