Chongqing businessmen look to closer to Thailand

Zou Xiaoping, chairman of the China Council for the Promotion of International Trade, Chongqing sub-council, said Chongqing could serve as a gateway for Thailand to explore more trade and investment in China.

"The provincial government has a key policy to promote the city as the trading, investment and logistics centre of Western China. Many trade and investment opportunities are waiting for Thai businessmen here," she said.

Businesses with potential are Thai restaurants, spa services, the production of processed farm goods, and trading of many agricultural products, including rice and fruit, and One Tambon One Product goods.

She said the metropolis - which has a population of more than 34 million - is developing strongly to serve as a centre for business activity. The government's plan to develop road and rail transportation during the next five years will also pave the way for more trade and investment growth.

In 2012, the overland travel time from Chongqing to Beijing will be cut to seven to eight hours, from more than 10 hours currently.

Thai businessmen should look at Chongqing as a potential gateway to conduct more business in China, she added.

Zou urged Thai Airways International to reopen direct flights from Bangkok to Chongqing in order to facilitate bilateral tourism, trade and investment.

Moreover, Thailand is urged to accelerate the establishment of a distribution centre in Chongqing, in order to ensure more trade growth with the Chinese mainland.

Many countries, such as the Philippines and Pakistan, are considering opening such centres.

Zou said that if the government and private-sector bodies, such as the Thai Trade Chamber of Commerce, could move rapidly and build a distribution centre, it would ensure that trade could be doubled.

Veerasak Jinarat, the Thai vice commerce minister, said the government would engage in business-matching to stimulate trade and investment growth between the two sides.

The decision to set up the first Thailand distribution centre in China in Chongqing should be finalised in June, so that both sides could sign a memorandum of understanding during the Thailand Trade Fair in the city.

Last year, bilateral trade between Chongqing and Thailand came in at US$120.65 million (Bt4.17 billion). Exports from Chongqing were worth $101.65 million, up by 54.1 per cent, while Thai exports dropped by 28.3 per cent to $19 million.

More than 4,700 foreign companies have invested in the city. Of these, 48 firms are Thai with a combined investment capital of $56.78 million.

Major businesses are in property development, food and entertainment, jewellery and ornaments, and motorcycle-parts production.