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Hub serves as important link in bilateral relations

By YANG WANLI in Bangkok | China Daily Global | Updated: 2023-06-02 10:13

China has remained Thailand's largest trading partner for nine consecutive years, and has been a major export market for Thailand's agricultural products. Bilateral trade surged 3 percent year-on-year to $135 billion last year, according to data from China's General Administration of Customs.

Thanks to the Belt and Road Initiative, the Thai-Chinese Rayong Industrial Zone was co-developed by China's Holley Group and Thailand's Amata Group for Chinese investors. It now serves as an important economic hub for bilateral trade between the two nations.

Established in 2006, the industrial zone was one of China's first overseas industrial sites and has become the biggest industrial cluster and manufacturing export base in Thailand and ASEAN for China's traditionally competitive industries.

Located in Rayong Province, the industrial zone covers an area of 20 square kilometers and is expected to expand to hold 500 companies and create more than 100,000 local jobs. Rayong is a core part of Thailand's Eastern Economic Corridor.

Currently, the zone is home to more than 180 Chinese-invested companies, mostly in the automobile, electronics and machinery sectors. So far, the zone has attracted more than $4.3 billion in investment from China and provided more than 45,000 local jobs.

Zhao Bin, president of the Thai-Chinese Rayong Industrial Realty Development Company, which operates the industrial zone, said the construction of infrastructure in the zone is an ongoing effort to better serve businesses investing in Thailand.

He said the construction work included manufacturing, logistics and living zones, which are all well-planned and on track. In the near future, he said the zone is expected to facilitate in-depth cooperation between upstream and downstream industries along the industrial chain.


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