Published on November 17, 2005

Deputy Prime Minister Somkid Jatusripitak has high hopes that trade with China’s Guangdong province will jump from US$6.5 billion (Bt270 billion) now to $10 billion in three years on closer commercial relations.

Somkid, who is also commerce minister, said after meeting yesterday with Zhang Dejiang, secretary-general of the Communist Party in Guangdong, that the southeastern coastal province is a gateway for Thai exports.

Around 10 per cent of all exports to China already pass through Guangdong, and there’s room to increase trade, he said.

Somkid said he became confident about the trade prospects after he talked with 500 delegates from both the public and private sectors who accompanied Zhang.

The Chinese businessmen and officials are scheduled to meet with 750 local counterparts at a seminar to promote trade ties tomorrow at the Grand Hyatt Hotel.

Somkid believes that $500 million to $1 billion worth of business would be clinched at the business seminar.

“The fact that China has brought its trade delegation to Thailand marks a new dimension in our economic relations,” he said.

Last year, two-way trade with China was $17.34 billion.

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