Thailand envisages many business opportunities in goods and services, mutual capital flows and talent exchange arising from the growing trade ties between China and Thailand, Vachara Phanchet, chairman emeritus of Pacific Basin Economic Council in Thailand, told China Daily.

"The Chinese and Thai are brothers and sisters. We are very close. Our trade relationship in the future is promising," said Phanchet, who was also the former Thailand Trade Representive.

China is now Thailand's second-largest trading partner, with bilateral trade up 22.3 percent year-on-year to hit $64.74 billion in 2011. Trade between the two countries was expected to reach $100 billion in 2015.

"We see good opportunities in goods and services, mutual capital flows and talent exchange arising from the growing trade ties between the two countries. More investment in real estates, shopping centers and growth of Chinese tourists in Thailand are also envisaged to grow in importance in the Thai economy," Phanchet noted.

However, Phanchet cautioned that there are some challenges in the process of fostering closer Sino-Thai trade relationship.

"The logistics issue needs to be addressed as transportation is very important in trade. The Chinese government also should eradicate the visa barrier to Thai businessmen that can promote more trade ties between the two countries," Phanchet added.

oswald@chinadailyhk.com

(HK Edition 01/16/2013 page2)