SET President on Thailand-China Cooperation

Added On June 10, 2019

The President of the Stock Exchange of Thailand, or SET, says Thailand-China cooperation will get stronger and contribute more to Thai economy.

Let's take a look.
SET President Pakorn Peetathawatchai talked about a number of areas, including China's investment and tourists in Thailand, which are contributing to bilateral cooperation between the two countries.
"When you look back 40 years ago, 30 years ago, Japan was our big partner and has been our big partner in automobile, in electric appliance, in electronic equipment. Now when you look at the next generation, the future of Thailand, both China and Japan and other countries who will have the foreign direct investment in Thailand a lot certainly will play a big role about that. In addition, when you look at the tourism industry, 20 percent of our tourists come from China. So you can see that there are so many things that Thailand and China will work together. ”
The SET President also said with Thailand joining the Belt and Road Initiative, cooperation between Thailand and China will get stronger.
" And now when you look at the Belt and Road Initiative, Thailand is one of the countries that will connect to that initiative  that China has. So in my opinion, the cooperation with China will certainly be more stronger and will contribute more to our economy."
Regarding the development of China's economy, the SET president expressed his confidence in the Chinese economy, saying it is actually quite sustainable in the long term.
"When you look at China economy, it’s huge and big part of the economy comes from the goal in the domestic(delete). So in my opinion, China has both sides that is very diversified. The international or the external side that the export and do a lot of business outside of the country. And also the growth potential that China itself has domestically. However, when you look at the growth that during the past 10 or 20 years of China, it’s gonna be very difficult to match those number. However, what can expected to say is that China should be able to still grow, however, might not be at the rate that it used to be. That in my opinion is actually quite sustainable in the long term. And now like everyone, China may need to look at the new way to do business both outside of the country and inside of the country. China has been doing a lot of infrastructure investments. And now you will see that other countries surrounding are doing the same thing. And in the future that would contribute the new area of growth."