Connect with us

Hi, what are you looking for?

Imsilkroad

Interview: China’s strong economic rebound to benefit Thai businesses, says Thai banker

Abstract : The Chinese economy's strong rebound from the COVID-19 shock will offer more opportunities for Thai businesses, said Wichai Kinchong Choi, senior vice president of leading Thai bank Kasikornbank.

BANGKOK, April 22 (Xinhua) — The Chinese economy’s strong rebound
from the COVID-19 shock will offer more opportunities for Thai
businesses, said Wichai Kinchong Choi, senior vice president of leading
Thai bank Kasikornbank.

China has been Thailand‘s largest trading partner for years. “As
demand from the European Union and U.S. markets is dented, the Chinese
market becomes even more important for Thailand,” Wichai told Xinhua in
an interview.

Thailand’s economy posted its deepest decline in more than two
decades last year amid the COVID-19 pandemic, and its recovery this year
will to some extent depend on how it enhances cooperation with China,
Wichai said.

Bucking a global downward trend, trade volume between China and
Thailand expanded 7.5 percent year-on-year to 98.63 billion U.S. dollars
last year, according to statistics from China’s Ministry of Commerce.
The growth accelerated from an annual increase of 4.8 percent registered
in 2019.

Despite the COVID-19 fallout, bilateral trade further gathered steam
in 2021, surging 28.7 percent year-on-year in the first quarter, latest
data from the Chinese customs showed.

“Sustained strong purchasing power at the Chinese market has provided hope for Thai exporters,” Wichai said.

He noted that besides boosting export, a key growth engine of the
Thai economy, Thailand also intended to speed up the alignment of its
“Thailand 4.0” development strategy with the Belt and Road Initiative,
and attract more investment from Chinese companies, especially in
sectors such as new energy, new technology and infrastructure.

In a latest monetary policy report, the Bank of Thailand said the
government’s stimulus measures and growth in exports with trading
partners were key factors supporting the economic recovery.

The central bank expected the country’s economy to expand 3 percent this year. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Interview: China’s strong economic rebound to benefit Thai businesses, says Thai banker

Press Release Wring Service
Press Release Wring Service Senmer Press Release Service

Trending

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...