Thailand’s government aims to sign mini-Free Trade Agreements (FTAs) with other provinces in China following strengthened partnerships from first FTA with Hainan province in late August.
Commerce Minister Jurin Laksanawisit said the ministry plans to organize online business matching activities between Thailand and Hainan at the end of 2021 and a trade fair, exhibiting world-class Thai brands, at the Hainan Expo for the second year in a row, focusing on promoting health and wellness products and services.
He said Thai officials are now eager to sign similar partnerships to increase bilateral trade with more provinces in China, such as Gansu in the north, which is a good match for Thai halal products.
According to the Commerce Ministry, “the Chinese government recently declared Hainan a free trade port, linking it with countries along the Belt and Road initiative, to encourage trade activity there. Hainan is a strategic point connecting the Guangdong-Hong Kong-Macau Greater Bay Area to Southeast Asia along the Maritime Silk Road”.