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Thailand keen to bolster trade with China

It will be the first meeting since the 25th Asean-China Summit in November of last year, when the two parties decided to enhance the ACFTA.

The agency stated that the ACFTA-JC hoped to complete the framework for trade talks between Asean and China as well as other important aspects by 2024.

The framework will address topics such as the green economy, supply chain connectivity, competition, consumer protection, and MSMEs (micro, small, and medium enterprises).

According to the department, with trade volume increasing 9.68% year over year to US$530.32 billion in the first three quarters of 2022, China is now Asean’s largest trading partner. Asean exported $210.92 billion to China while importing $319.39 billion from that country.

Thailand’s commerce with China increased by 1.53% year over year in 2017 to US$105.40, or 3.55 trillion baht, with exports amounting to $34.38 billion (1.16 trillion baht) and imports at $71.01 billion (2.39 trillion baht).

Fresh fruit, rubber, plastic beads, tapioca, computer parts, and chemicals are Thailand’s top exports to China. Electrical equipment, appliances, computers, and componentry are among its main imports from China.

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