Gains seen in China's '1 Belt, 1 Road' plans

PETCHANET PRATRUANGKRAI

BANGKOK:-- THAILAND will benefit from China's "One Belt, One Road" initiative, whose combined investment in various countries is estimated to total US$1.6 trillion (Bt57 trillion), a seminar held yesterday to mark the 40th anniversary of Thai-Chinese relations was told.

The Chinese initiative, which covers more than 60 countries in Asia, Europe and Africa, includes the modern-day Silk Road economic belt and the maritime Silk Road, and is aimed at stimulating economic growth via transport infrastructure and other investment schemes.

Bangkok Bank president Chartsiri Sophonpanich said highway, high-speed railway and maritime routes along the ancient Silk Road would deepen the links between China and Southeast Asia, the Middle East and Europe.

"With a huge investment outlay of $1.6 trillion, the projects will boost economic growth in the Asean region, and [not least in] Thailand," he said at the 'The Way Forward - 21st Century Maritime Silk Road China-Thailand Forum', held at the Shangri-la Hotel in Bangkok.

China's ambassador to Thailand, Ning Fukui, said Thailand and China should forge closer cooperation by setting up a logistics and transportation development centre, as both nations had similar projects for infrastructure development and building linkage around Asean, and to continents beyond Asia.

The Thai government now has Bt2 trillion-worth of infrastructure development projects for the next 10 years, which will create road and waterway linkages, while China also has the modern-day Silk Road and maritime Silk Road development projects, and the two nations' programmes could be connected to promote growth in the region, Ning said.

China is projected to double its gross-domestic-product proportion in the global market to $17 trillion between 2010 and 2020, he added.

China also expects to achieve annual economic expansion of between 6.5 per cent and 7 per cent during the next five years, following the government's policy to restructure the economy and promote more domestic consumption.

Moreover, the country is also targeting the problem of poverty under its five-year plan, with the current number of its people living in poverty estimated at around 70 million, the ambassador said.

With stronger economic growth, China will have increased demand for food and consumer-goods imports to the tune of around $10 trillion, hence the two Silk Road initiatives should facilitate and boost trade growth between China and Asean, he told the forum.

Transport Minister Arkhom Termpittayapaisith said the development of a high-speed train route to connect Southern China from Kunming to Luang Prabang in Laos, and onwards to Nong Khai-Khon Kaen-Nakhon Ratchasima-Bangkok, would help promote economic development along the entire route.

Thailand is now proceeding with construction of some parts of the rail route, while other parts still need to await additional study, he said.

If Thai industries want to reap the maximum benefit from such connection, they need to develop high-technology production, or create 'super-clusters', he added.

The minister told the seminar that the government had a clear policy to promote road and railway infrastructure development to serve the upcoming full integration of the Asean Economic Community, in particular special economic zones to promote cross-border trade and investment, as well as to promote the development of Thai industries.

Meanwhile, the International Trade Promotion Department said Thai shipments to China should recover in 2016, following an expected 5-per-cent decline this year.

Malee Choklumlerd, director-general of the agency, told the forum that the focus would be on high-income and super-rich mainland Chinese, who had the strongest purchasing power.

Source: http://www.nationmultimedia.com/business/Gains-seen-in-Chinas-1-Belt-1-Road-plans-30273436.html

-- The Nation 2015-11-21

Hope that Thailand will grasp the nettle this time?

Malee Choklumlerd, director-general of the agency, told the forum that the focus would be on high-income and super-rich mainland Chinese, who had the strongest purchasing power.

Probably getting reliable "quality tourist" intel from TAT.

I suspect that "One Belt, One Road" comes with "One Leader" - China.

Thailand will become the Hub of Followers.

Many things have changed but the level of complaining in this forum still remains the same. Haiz.