Shanghai and Bangkok look to forge closer ties

Shanghai and Bangkok are expected to build closer economic ties due to the extended development of the Belt and Road Initiative, the China (Shanghai) Pilot Free Trade Zone, as well as Thailand's Eastern Economic Corridor (EEC), officials said.

"Last year we saw a big rise in applications for investment promotion from Chinese companies ... (and) in the first half the (new) applications for investment promotion in the EEC area from Chinese companies became number one," said Luxmon Attapich, deputy secretary-general of Thailand's Eastern Economic Corridor Office during the Second Bangkok-Shanghai Economic Conference.

"China ranks as Thailand's largest trading partner for five consecutive years and the bilateral trade volume reached $80 billion last year, up 8 percent. The number of Chinese traveling to Thailand amounted to 11 million last year, one third of all foreign tourists in Thailand, making China the largest source of revenue for Thailand's tourism industry," said Sasirit Tangulrat, consul-general of the Thai Consulate in Shanghai.