Thailand Eyes more Mini-FTAs in China

Thailand wants to sign mini-free trade agreements (mini-FTAs) with the Chinese city of Shenzhen and the province of Yunnan in March and April, respectively, after the mini-FTA with Hainan resulted in a significant growth of Thai exports. 

Commerce Minister Jurin Laksanawisit said that after discussions in Bangkok with Shen Danyang, the executive vice-governor of China's

Hainan province, Thailand urged Hainan to continue to support trade negotiations, seminars, and business matchings under the mini-FTA. 

Thailand signed the mini-FTA with Hainan in August last year. Under the partnership deal, Thailand-Hainan collaboration covers five main areas.

These areas comprise: cooperation on information exchange and measures to support small and medium-sized enterprises (SMEs), such as investment and establishment of trade representatives; business linkage promotion and enhancing creativity and innovation of SMEs via product development and expanding opportunities in third markets; facilitation of trade activities through seminars, trade shows, business matching and trade delegations; expansion of trade volume for agricultural, food and industrial products; and promotion of e-commerce and online business matching.

Thanks to the partnership, bilateral trade between Thailand and Hainan has risen by 91.9% to US$520 million. Exports from Thailand accounted for $299 million, up by 66.8% from a year before, with imports from China rising by 140% to $220 million.

https://www.bangkokpost.com/business/2511186/thailand-eyes-more-mini-ftas-in-china