Supply chain brings China and Thailand closer

China's open business environment and growing potential for international trade are attracting Thai enterprises that are eager to build closer trade bonds with China at the major international supply chain expo in July.

"We can see vast potential for cooperation between China and Thailand that will benefit both," said Dhanin Chearavanont, senior chairman of Charoen Pokphand Group, one of the world's largest producers of animal feed and livestock in Thailand.

Speaking at the Thailand roadshow of the Third China International Supply Chain Expo (CISCE) that was held in Bangkok Tuesday, Dhanin said China has seen dramatic changes over the past three decades and its current infrastructure construction has reached the world's top level.

"China's cutting-edge technologies impressed me a lot. During my recent trips to China, I was also amazed by the country's talents. As the world's first of its kind, the expo in China is very creative and will bring great chances of boosting cross-border trade to companies worldwide," he added.

China has been strengthening policy support to bolster foreign trade and investment and spared no effort to promote a higher level of opening up to the outside world in the past few years. A total of 59,080 foreign enterprises were newly established in China last year, up 9.9 percent year-on-year, according to the Ministry of Commerce.

As the world's first exhibition with the theme of supply chain, CISCE aims to connect upstream, midstream and downstream sectors, bring together enterprises and related partners from all fields, and foster interaction between China and international business partners.

"The expo is an important platform for deepening industrial development in the region and an open stage for determining the direction of global production and industrial transformation," said Suchart Chomklin, deputy minister of Thai commerce.

In his opening remarks, Suchart reviewed the strategic partnership between China and Thailand -- the two partners with long-term friendship. He also noted that China is Thailand's top trading partner, maintaining the highest bilateral trade value for 12 consecutive years since 2013.

"The expo provides precious chances for Chinese enterprises that are seeking opportunities to expand their business in Thailand," he said. "We will make joint efforts with other Thai sectors, creating an open and fair environment for Chinese investors for mutual benefits."

President of the Thai-Chinese General Chamber of Commerce Narongsak Puttapornmongkol said trade bonds between Thailand and China have been strengthened over the past years.

"As the two nations are celebrating their 50th anniversary of the diplomatic relation this year, we hope the expo will further promote the sustained growth of the trade and investment between Thailand and China," he added.

The second CISCE that was held last November witnessed the signature of more than 210 trade deals and tentative agreements totaling more than $21 billion, according to the China Council for the Promotion of International Trade (CCPIT). The five-day event gathered more than 600 exhibitors from nearly 70 countries and regions.

Ren Hongbin, chairman of the CCPIT, led the Chinese delegation at the event and gave a keynote speech. He highlighted China's extensive market and its openness, while invited Thai enterprises to participate in the third CISCE, which will kick off on Jul 16 in Beijing.

"We chose Thailand as our first station for this year's roadshow because the Kingdom has been our good neighbor, friend and family member for a long time. We hope to upgrade our cooperation and make bigger value from our trade," Ren said.

"Also, as the two countries are aiming to build a green society with high-quality development, we should expand our bilateral trades to new industries, such as digital economy and advanced technology. China welcome more Thai enterprises to the third CISCE and seeks more opportunities for a win-win result," he added.