H.E. Mr. Wang Yong, State Councilor of China, said at the 2018 China-Thailand Business Forum, that China-Thailand cooperation boasts a solid foundation, vigor and vitality and remarkable results. It has set a good example for mutually beneficial cooperation between states and injected strong impetus to economic development of the two countries and the region as a whole. In 2017, the two-way trade volume exceeded US$80 billion. Under the framework of the China-ASEAN FTA, China has provided zero-tariff treatment to over 90% of Thai products exported to China, promoting trade in rice and rubber between the two countries. China-Thailand Railway project officially started. Satellites designed and made jointly by the two sides are expected to be launched in the near future.
China and Thailand are both developing countries, and our industrial structures are highly complementary. We should conduct pragmatic cooperation in a larger scale, wider area and greater depth. We should fully tap the potential of bilateral trade and increase its volume to US$ 140 billion by 2021.
The Chinese side is willing to encourage capable Chinese enterprises with good credit and financial institutions to actively participate in the development of the EEC, and explore new cooperation opportunities in the fields of smart electronics, eco-agriculture, digital industry, tourism services, culture and education under the Belt and Road international cooperation framework in accordance with the principle of enterprises-led, government-supported and market-driven.
China will further deepen reform, lower the threshold for market access, and create a favorable business atmosphere for Thai enterprises to invest and conduct business in China.
China will continue to work closely with Thailand to jointly safeguard the multilateral trading system with the World Trade Organization as its core and promote the liberalization and facilitation of trade and investment.