China becomes Thailand's 2nd largest trade partner

China was Thailand's second largest trade partner after Japan at the end of January 2011, according to the China-ASEAN Expo Secretariat.

China has become Thailand's second largest export market and its second largest source of imports.

Statistical data from the China-ASEAN Expo Secretariat shows that the "zero tariff" preferential policies related to the China-ASEAN Free Trade Area (CAFTA) have effectively boosted the trade between China and Thailand.

In 2010, the bilateral trade value between China and Thailand reached 46 billion U.S. dollars, an increase of more than 30 percent from 2009. Of those, the exports from Thailand to China were up 34 percent to 21 billion U.S. dollars and the imports from China to Thailand were up 43 percent to 25 billion U.S. dollars.

Furthermore, the two countries have also achieved fast growth in bilateral investments, contract projects and labor service cooperation.

Through the China-ASEAN Expo, Thailand's industries with comparative advantages, such as food, agricultural products, light industrial products and rubber materials and products, have captured bigger market shares in China.

An official from the China-ASEAN Expo Secretariat said that the Eighth China-ASEAN Expo, which is to be held in China's Nanning in October 2011, will inject more fuel into the economic and trade cooperation between China and Thailand in addition to creating more business opportunities.

The 8th China-ASEAN Expo will be held in Nanning of Guangxi between Oct. 21 and Oct. 26, and the key topic will be "environmental cooperation." Malaysia will be the theme country of the expo.

By People's Daily Online

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