Market Chatter: Thai Minister Seeks Deeper Ties With China to Boost Economy

Thailand Finance Minister Pichai Chunhavajira said the country should focus on deepening ties with China instead of competing to become a gateway for Chinese exports through the proposed land bridge project, the Bangkok Times reported Tuesday.

Addressing the ACMA Business Forum 2024, the Minister pointed that China is one of the world's largest exporters and importers and the two countries should "cultivate a mutually beneficial trade relationship," according to the report.

Pichai also emphasized on Thailand's agricultural potential, noting that 80 to 90% of its land is suitable for cultivation, compared to just one-third in China. He added that Thailand's strategic location can also position it as an aviation hub for flights with a range of 9 to 10 hours, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)