Thailand has signed a mini-free trade agreement with China’s Yunnan province, focusing on industries such as logistics and cross-border e-commerce. Yunnan province plays a crucial role in connecting western China to East Asia, Southeast Asia, and South Asia. The agreement aims to boost Thailand’s exports of agricultural products and processed fruit to the Chinese market. This is the eighth mini-FTA that Thailand has established with various regions in China, Japan, India, and South Korea. Additionally, Thai private sector entities have signed agreements with counterparts from Yunnan, showing strong collaboration between the two countries. The trade volume between Thailand and Yunnan is expected to reach $2.34 billion in 2022, with a 17.9% growth from the previous year. The agreement also facilitates access for Thai products to the Chinese market through cross-border e-commerce. Furthermore, there is a cooperation agreement between Udon Thani Industrial City Co and Yunnan Tengjin Logistics Co to enhance logistics cooperation, particularly via the China-Laos high-speed railway route.
Source link : Thailand and China’s Yunnan province sign a mini-FTA by Zhang Fang
