TRADE and investment ties between Thailand and China are expected to be boosted by three upcoming flagship projects.
The collaboration follows talks between the premiers of the two nations after the conclusion of the Asean Summit in Bangkok recently.
Speaking after meeting Chinese Premier Li Keqiang, Thai Prime Minister Prayut Chan-o-cha said they discussed a wide range of topics covering the economy, politics, security, science and technology, innovation, social and cultural issues, as well as regional and global matters.
According to the Bangkok Post, the two sides agreed that the Chinese premier's official visit was another important milestone which cemented the strategic partnership and cooperation between Thailand and China; and has also set the direction for future ties.
The flagship projects are the Thailand Eastern Economic Corridor (EEC) investment scheme; the Sino-Thai high-speed railway project; and China's Belt and Road Initiative.
Both leaders also underlined that it is essential to build greater connectivity between the two countries under strategies and cooperation frameworks such as the Master Plan for Asean Connectivity (MPAC) 2025, and the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS).
Prayut said that China's Belt and Road Initiative complements Thailand's "Connecting the Connectivities" proposal, and that the two nations have also agreed to forge a link between the EEC and China's Greater Bay Area (GBA).
The GBA aims to link up nine cities in Guangdong province – Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing – and the special administrative regions of Hong Kong and Macau, with the aim of developing a world-class city cluster via reforms, innovation and liberalisation.
Prayut added that the two sides will set up mechanisms for high level talks to push through the cooperation projects, adding that he had invited China to expand its investments in Thailand, and to buy more Thai rice and rubber.
Thailand and China have also agreed to boost the growth of the digital economy and smart cities under Thailand's 4.0 policy to bolster the economy through innovation and technology.
Meanwhile, Li said that Thailand and China have achieved mutual cooperation and political trust, adding that Beijing is ready to support projects such as the EEC, as well as promote cooperation on rice trade, e-commerce and the Sino-Thai high-speed railway project.
The project is divided into two phases. The first covers a RM17 billion section spanning 252.5km from Bangkok to Nakhon Ratchasima in the northeast. The second, which will cost about RM27 billion to build, will run 355km from Nakhon Ratchasima to Nong Khai and the Laos border, forming part of China's Belt and Road Initiative.
It will then eventually link up with other rail networks to Kunming in southern China.
"We respect Thailand's role as the centre of Asean... China and Thailand are rowing in the same boat. We are like close brothers. We will move forward together with a bright future waiting ahead, based on the principles of equality and a good partnership," Li said after the meeting.