China-Thailand economic and trade cooperation forum kicks off in Bangkok, focusing on ever-closer partnership

Pannaros Boonserm (C), a translator at the China-Thailand railway construction project, works at a construction site of the China-Thailand railway in Nakhon Ratchasima province, Thailand, Nov 10, 2022. (Photo/Xinhua)

To celebrate the 50th anniversary of the diplomatic relations between China and Thailand, and deepen economic and trade cooperation between the two countries, the China Council for the Promotion of International Trade (CCPIT) and Thai Chinese Chamber of Commerce in Thailand jointly host the China-Thailand economic and trade cooperation forum on Tuesday in Bangkok, the CCPIT said.

China and Thailand share a close relationship as good neighbors, relatives, and partners. The economic ties between the two nations are strong, with China being Thailand's largest trading partner, the biggest exporter of agricultural produce, the largest source of foreign investment, and the top source of foreign tourists, the CCPIT said.

Chinese manufacturing products, such as machinery, electronics, and auto parts, are increasingly popular in the Thai market, while Thailand continues to export large quantities of rubber and fruits to China, according to the CCPIT.

The conference aims to promote the third China International Supply Chain Expo (CISCE). During the second CISCE, four major Thai business associations actively participated, highlighting Thailand's strong emphasis on the event.

Zhou Shixin, director of Center for Southeast Asia Studies, Shanghai Institutes for International Studies, told the Global Times on Tuesday that, in recent years, there has been significant development in trade and investment between China and Thailand.

Investments are increasingly focusing on high-tech sectors, highlighting the digital economy and electric vehicles. China's investments are providing new growth opportunities for Thai economy. Also, Thailand presents an attractive environment for attracting Chinese investments, Zhou added.

On January 12, 2025, Thai government spokesperson Jirayu Houngsub disclosed a report from the Board of Investment on the country's economic outlook for 2025 which is expected to see positive growth. Approximately 800 billion Baht is estimated from the investment in 5 S-Curve industries, especially in the electronics and digital sectors, according to a statement issued on the website of the Thai government.

The report placed great importance on green transition and promotion of sustainable environment, focusing on promoting all forms of clean energy production.

China is the largest trading partner of Thailand and one of its most important investment sources. China's vast market absorbs large quantities of Thai durians and other agricultural products. Chinese electric vehicles have experienced exponential growth in Thailand, the Xinhua News Agency reported.

This year marks the 50th anniversary of diplomatic ties between China and Thailand. Chinse foreign ministry spokesperson Lin Jian told a press conference in November that taking the 50th anniversary of the diplomatic ties as an opportunity, China stands ready to work with Thailand to deepen cooperation in trade and investment, connectivity, sci-tech innovation, and culture and education, and strive for more fruitful outcomes in partnership in the next five decades to come.