Thailand and China have agreed to establish a joint working committee to implement a high speed rail project after the two countries signed a Memorandum of Understanding (MoU) to facilitate transport development in the region.
China’s Deputy Commerce Minister Chen Jian on Friday met Thailand’s Transport Minister Jarupong Ruangsuwan and they discussed the framework of cooperation and progress of the high speed rail project, according to Deputy Transport Minister Chatt Kuldilok, who oversees the State Railways of Thailand (SRT) and who also attended Friday’s meeting.
China wants to develop a railway route connecting Kunming in southern China with the Lao PDR and Thailand, as regional economies are growing constantly and a large number of Chinese visit Thailand, the Thai minister said.
Thailand and China agreed to set up a working committee to implement the project.
China announced its readiness to support surveying and design and providing technical assistance after the Thai government stated its clear policy to develop the first Bangkok-Chiang Mai high speed rail route.
No obligation that only China can invest in the Thai high speed rail project, and no commitment that Thailand must use technology from China, Mr Chatt said.
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Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
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