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Thailand-China sign deal promoting Thai fruit export

National News Bureau of Thailand

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BANGKOK (NNT) – With seasonal fruit about to hit the market, including durian, rambutan, and mangosteen, the Thai-Chinese Chamber of Commerce has singed an agreement with CCIC Thailand to provide better traceability service for Thai fruit exported to China, following a new traceability requirement for all imported farm products into China.

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With this agreement, CCIC Thailand as the local office of China’s largest quality assessment and traceability services provider, will help with legal procedures, as well as the requests for health and hygiene certificate, and compliances to additional regulations for certain fruit.

The Thai-Chinese Chamber of Commerce President Narongsak Puttapornmongkol said Thai fruit products have often been subjected to a lengthy customs clearance at China, however the new service provided by CICC Thailand will help shorten this process to no longer than 3 days, as product information can be traced back from a scan of a QR code. This streamlined process will be beneficial to Thailand’s export, especially fresh produce.

The export value of fruit products from Thailand to China in 2020 has grown by 39.43% at about 2.9 billion US dollar, despite the impacts from COVID-19 pandemic. The value of durian export alone last year is worth about 1.5 billion US dollar, a whopping 77.57% growth. These major growths have been contributed by the services provided by CCIC Thailand, who in the last year helped processed the export of durian, mangosteen, and longan worth about 8 billion baht to China. These services are expected to help increase the export of fresh fruit to China, albeit depending on the harvest volume.

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Economics

New Business Registration Tops Highest since January 2019

The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport and logistics (192).

National News Bureau of Thailand

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BANGKOK (NNT) – New business registration topped 7,283 in January, the highest since January 2019, driven by the promise of Covid-19 inoculations and upbeat sentiment on the country’s economic outlook.

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Economics

EEC Expects 300-billion-baht Investment This Year

National News Bureau of Thailand

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BANGKOK (NNT) – The Eastern Economic Corridor (EEC) has expected investment to triple to 300 billion baht this year as investment projects previously held by the coronavirus outbreak get pushed forward again.

EEC Secretary -General Kanit Sangsubhan said actual investment in the EEC could be up from 96 billion baht in 2020, or 46% of total project applications as investors did not invest last year, and they would have to do it this year.

He said there will be a bunch of projects held up from previous years.

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Economics

Commerce Ministry sets Thailand’s export growth target at 4% for 2021

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand has seen export growth of 0.35 percent in the first month of the year. The Commerce Minister has ordered the Department of International Trade Promotion to advance an action plan to accelerate growth, which is set at 4 percent this year.

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