Thailand to Gain From China's WTO Entry: Official

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Last updated at: (Beijing Time) Wednesday, November 21, 2001

Thailand to Gain From China's WTO Entry: Official

China's entry into the World Trade Organization (WTO) will yield more positives for Thailand than negatives, a senior Thai official said Wednesday in Bangkok.

China's entry into the World Trade Organization (WTO) will yield more positives for Thailand than negatives, a senior Thai official said Wednesday in Bangkok.

"China's major tariff reductions, especially on agricultural products after its WTO accession, will make Thai products more competitive there," Deputy Commerce Minister Suvarn Valaisathien said at Nation TV Channel.

"The Chinese consume about 100 million tons of rice annually. And when the tax wall comes down, prices of Thai rice and other agricultural products will be cheaper, enabling Thailand to sell surplus products to compete with rivals in the Chinese market," he said.

The official said once China is a full member of the WTO, Thailand may experience a drop in export of electronic product but it would not affect overall exports.

"Thailand should gain more benefits than it will lose," he said.

Suvarn also rejected the idea that China's accession to WTO would siphon foreign investment from Thailand.

"This is because we are one of Asia's most stable nations, politically, socially, and economically. The government will still have to review laws and regulations related to foreign investment in order to attract more foreign investors," he said.

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