PUBLISHED : 25 Mar 2024 at 04:30
Cooperation between Thailand and China will get a further boost when the new high-speed rail project is completed, Chinese ambassador Han Zhiqiang said.
He made the remarks at a seminar on economic ties between the two countries and the Thai-China free visa agreement organised by the Thai-Chinese Journalists Association on Saturday.
He said Thailand connects with other regions, and when the Thai-China high-speed train is completed, it will boost connectivity between Thailand, Laos, China, and with Asean in general.
According to the Transport Ministry, the Nong Khai-Vientiane section of the Thai-China high-speed rail project is expected to be completed in 2028.
The project’s committee has agreed to expedite work on the 7.3-kilometre section, which is estimated to cost about 3 billion baht. According to the ministry, the State Railway of Thailand has commissioned a feasibility study on the project.
The SRT will select the final design this year, and the bidding process will begin in 2025. According to the ministry, the Thai section of the line will span 606 kilometres and connect Nong Khai and Bangkok.
The high-speed train will then extend to connect to Laos and China.
Mr Han said a new world will open for cooperation between Thailand and China through transport as well as policies such as the Regional Comprehensive Economic Partnership.
He also stressed the need for talks to upgrade the Asean-China Free Trade Agreement (ACFTA), which will help boost cooperation in many areas.
The ACFTA has been effective since 2004 and import duties have been trimmed in phases. According to the agreement, goods under the normal track will be slashed to the final rate of zero and those under the sensitive track will have import duties cut or exempted later.
According to the Foreign Trade Department, the ACFTA has boosted significantly Thai exports to China, particularly processed sugar items such as syrup, artificial honey and various sweeteners.
According to the department, Thailand’s processed sugar exports to China have grown by 145% annually over the past decade.
Ronnarong Phoolpipat, the department’s director-general, said China remains the leading export market for agricultural products, accounting for 42% of shipments.
Among the products in high demand are processed sugars (excluding raw sugar), such as syrup, artificial honey, caramel and other sweeteners used in food, beverages and pharmaceuticals.
