Thailand is looking to partner with China to invest in solar farms, hydroelectric dams, and wind turbines in nations like Laos and Vietnam.
It is also a significant collaborator in the construction of the pan-Asian high-speed rail system, which will connect Kunming with Singapore.
In order to expand bilateral cooperation beyond tourism and tropical fruits, Thailand has been putting out the concept of teaming up with China to access Southeast Asia’s emerging energy and digital sectors.
The idea, which was recently put forth by Thailand’s ambassador to China, Arthayudh Srisamoot, may also be advantageous to Beijing, as the second-largest economy in the world looks to the 15 members of the Regional Comprehensive Economic Partnership and the 10 members of the Association of Southeast Asian Nations as alternatives to the US market.
As it looks for co-investment with Chinese firms in wind turbines, hydroelectric dams, and solar farms in nations like Laos and Vietnam, Arthayudh claimed that the Thai government is concentrating on new industries and innovative goods.
He added on the sidelines of a global talent summit in Macau in the middle of May, “This is an example of an operation that Chinese businessmen and Thai businessmen are doing to help a third country in the area of new energy.”
Arthayudh highlighted the possibility for collaboration with China’s Greater Bay Area, a significant growth engine in southern China and a basis of new energy and digital development, citing historical ties.
The economic development zone, which includes Hong Kong, Macau, and nine cities on the Chinese mainland, including Shenzhen and Guangzhou, aims to become the country’s top hub for growth and innovation.
It is already the home of renowned companies like telecom giant Huawei, manufacturer of new energy vehicles BYD, internet giant Tencent, and drone manufacturer DJI.
In the first four months of this year, Asean surpassed both the US and the EU as China’s top export destination. With a population of 660 million, Southeast Asia is home to many factories being built by Chinese manufacturers, and several Chinese technology companies have increased their market share there.
Five million Chinese visitors are projected to travel to Thailand this year, which has the second-largest economy in Asean. Thailand is also a major supplier of imported rice and tropical fruits.
It is also one of China’s main partners in the construction of the pan-Asian high-speed rail network, which will connect Singapore to Kunming, the capital of China’s Yunnan province.According to Arthayudh, “I believe that the creative [and] new industry] is pretty prominent right now.
“You know, we’re talking about managing throwaway garbage and sustainable energy. Additionally, a large number of Chinese businesses turn all these waste goods into bricks, walls, and towers.
According to a research released by the International Energy Agency last year, Asean member nations’ switch to sustainable energy could result in “greater business opportunities” in the developing clean energy sector.
The envoy announced that Guangdong Governor Wang Weizhong will travel to Thailand before the end of the following month, and he hoped that both parties would take advantage of the occasion to decide to expand their partnership and exchanges.
There has been an annual discussion mechanism between Thailand and Guangdong, the top exporting province of China, for twenty years. In the last two years, the annual conference has been elevated to the ministerial level.
According to Arthayudh, Thais still mostly use cash and credit cards to make purchases and pencils or watercolors to design, making it “a more traditional country” that could “learn a lot from China in terms of fully utilizing the digital concept.”
“I think Southeast Asian countries are a little bit more traditional – [if] you go to Indonesia, Laos, or Cambodia, they still don’t know the digital way of life,” he remarked, making a strong development-related suggestion.
“If you go to Myanmar, they’re still utilizing methods from 50 years ago… The future, in my opinion, is digital.A thorough restart of bilateral talks at all levels would “deepen coordination and cooperation in multilateral fields, including regional cooperation,” Arthayudh stated in a meeting with Assistant Foreign Minister Nong Rong in March.
According to a World Bank assessment released on May 16, Thailand’s innovation is hampered by a lack of technical professionals, insufficient scientific output, and restricted access to financing that restrains the expansion of small and medium-sized businesses.
Arthayudh stated, “When we look at our relationship with China, it’s more than just the internet or creative industries. “China and Thailand have significant cooperation in the agricultural sector.”Guangdong, however, is the province that is concentrating on the creative industries since it is the greatest place to advance the creative agenda.
