A Thai minister called for a positive perception of its trade with China, emphasizing benefits from the two partners' collaboration while urging relative sectors to strengthen laws to guarantee fair competition and safeguard consumers.
In a government policy statement on Friday, Commerce Minister Pichai Naripthaphan noted that the new administration should make the best interests of the trade with the major markets — China and the United States in particular.
He reaffirmed Thailand's neutral attitude and expectation of drawing more investment and opportunities. "Thailand should take advantage of the changing world and seek its own development," he said.
In response to an increasing concern among Thai industry groups over the Chinese goods influx, Pichai expressed his confidence in the revival of the country's economy and called for a rational and positive view on imports from China.
Last year, trade volume between China and Thailand reached $126.3 billion, according to the statistics from the Chinese embassy in Thailand. At least 40 percent of agricultural products in Thailand were exported to China annually.
For the tourism sector, Thailand had welcomed more than 22 million foreign tourists by Aug 18 this year, bringing an income of nearly 1.06 trillion bahts ($31.8 billion).
Sompop Manarungsan, president of the Panyapiwat Institute of Management, said the new government should address the perception that Chinese goods and investments are seen as negative by Thais before it escalates, Bangkok Post reported.
He suggested that collaboration between China and Thailand could build a win-win trade model. "If the perception and attitude toward Chinese trade and investment are not addressed promptly, the result would significantly impact Thailand's export and tourism sectors," he said.
After taking the role last month, Thailand's new Prime Minister Paetongtarn Shinawatra confirmed the plan to deepen the close bond with China on social media platform X, saying that the friendship with China is based on "mutual trust and respect, a common vision toward prosperity and progress, as well as familial ties between our two countries' peoples."
Narongsak Putthapornmongkol, president of the Thai-Chinese Chamber of Commerce suggested that Thais should look at its trade with China objectively. "China always opens its door to products from Thailand and welcomes the trade with mutual benefits," he added.
Narongsak said China always supports the export of Thai products to the Chinese market through multiple channels and has invited Thai partners to participate in its major trade fairs for years. The Chinese government even provided free booths for Thai enterprises for 20 consecutive years for the China-ASEAN Expo.
Chinese enterprises in Thailand also help with employment in the country, he said, adding that the Thai-Chinese Rayong Industrial Zone helped boost Thai exports of $3 billion last year and provided jobs for more than 55,000 Thai people.