Thai, Chinese entrepreneurs sign deals worth US$10 bln

Jul. 30, 2009 (China Knowledge) - Thai and Chinese entrepreneurs have signed letters of interest worth US$10 billion at the Thailand-China Business Forum that took place earlier this week in Pattaya, Thailand, the People's Daily reported.

On Monday, the first day of the forum, the two countries signed 48 letters of interest worth US$6.2 billion, of which US$5.4 billion was for investment cooperation projects, and US$1.7 billion was for trade cooperation projects, said Lu Junqing, chairman of World Eminence Chinese Business Association, one of the organizers of the forum.

Lu also said that China is aiming to increase the trade volume between the two countries to US$50 billion in the next five years and that the bilateral investment is expected to grow by US$6.5 billion in 2010.

Thailand has an open policy toward foreign investment, and because there is great cooperation potential between the two countries, Thailand hopes more Chinese enterprises will invest in Thailand, said Thai Prime Minister Abhisit Vejjajiva at the closing ceremony of the forum on Tuesday.

The forum attracted nearly 300 Chinese entrepreneurs and more than 500 Thai businessmen.

China is Thailand's third-largest trade partner. Last year, the trade volume between the two countries reached US$36 billion.