Thai fruits – Illustrative image (Photo: thainews.prd.go.th)Bangkok (VNA) – Thailand’s Commerce Ministry recently
signed a memorandum of understanding (MoU) to form a deeper trade partnership
through a mini-free trade agreement (mini-FTA) between Thailand and China’s Yunnan
province.
Phusit Rattanakul Sereeruengrit, director-general of
Thailand’s Department of International Trade Promotion, said that the mini-FTA
will facilitate the expansion of cooperation in various industries including
logistics and cross-border e-commerce.
Notably, Thailand, as a significant exporter of agricultural
products and essential foods, is expected to increase its export of fruits and
processed foods to the Chinese market, said Phusit, adding that the agreement
also reflects the readiness of both the Thai and Chinese governments to
contribute to the economic development of both nations.
This is Thailand’s 8th mini-FTA and the country is eying
more trade cooperation with minor cities after the previous mini-FTAs resulted
in a significant growth of Thai exports.
Total trade in 2022 between Thailand and Yunnan reached 2.34
billion USD, representing a year-on-year rise of 17.9%./.
VNA
