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China to invest $400m in projects in Thailand |
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China has pledged to pump US$400 million into infrastructure projects in Thailand and step up cooperation in other areas, following a meeting between Chinese Prime Minister Wen Jiabao and visiting Thai Premier Samak Sundaravej. According to an English language daily of Thailand, Beijing will encourage its companies with growth potential to provide loans of $400 million to finance Thailand's mega-projects to build electric trains for metropolitan Bangkok. With closer economic ties, the value of Sino-Thai trade is expected to surpass $50 billion by 2010, the newspaper reported yesterday (July 1). According to Xinhua news agency, Samak will try to nail more agreements on exporting fresh Thai fruit to China on his visit to the country. The tariff-free measure under the framework of the ASEAN-China free trade zone has resulted in a huge drop in prices of Thai fruit like durian on the Chinese market, while at the same time allowing Thais to enjoy Chinese ginkgo nuts and apples. Samak expressed his gratitude for Beijing's financial support for development of Thailand's basic infrastructure and invited Wen to visit Thailand later this year. The Thai Premier invited the Chinese business community to invest in Thailand, particularly in the development of public utilities and support facilities for Bangkok's underground and elevated electric rail route construction. He said Thailand was ready to give support if Chinese firms entered into joint ventures with Thai counterparts. Wen, on his part, expressed gratitude to the Thai people for their assistance to victims of the recent strong earthquake in Chengdu province. He said China greatly appreciated the assistance that Thailand's royal family and people gave to the victims. China will also boost bilateral relations in the areas of education and culture, and finance the planned construction of a Sino-Thai Cultural Centre. As a mark of close ties between the two countries, Samak and Thai Princess Maha Chakri Sirindhorn will attend the opening ceremony of the Olympic Games on August 8. |
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Asia New Network, http://www.asianewsnet.net/news.php?id=36&sec=2, 02.07.2008 |
