Thailand and China to sign MoU on barter trade

business October 10, 2013 00:00

By The Nation

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Thailand will tomorrow sign an memorandum of understanding with China, to partially pay for Chinese rail system with Thai agricultural products, chiefly rice and rubber.



Chinese premier Li Keqiang will arrive in Thailand tomorrow. 
Transport Minister Chadchart Sittipunt said Thursday that after the signing, both countries would set up a working committee to conclude further details. Initially, under the MoU, both countries agreed for the barter, he said.
"This is the first step of discussion, to explore the possibility of the barter. Details will be worked out later, as this involves a lengthy process. Moreover, this can be done only at the government-to-government level," he said.
Chadchart expected China to show interest in bidding for the high-speed train construction, in the Bangkok-Nong Khai route.
Through this route, Thailand will be connected with Laos and the Southern Chinese province of Kunming. It is part of the Bt2 trillion infrastructure investment scheme. 
"Feasibility and benefits to Thailand would be thoroughly studied and this would be done in full compliance with the laws," he noted.