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Thailand to sign deal with China on 2.2 mln tons of rice and rubber

Thailand will sign a government-to-government (G-to-G) deal with China on the selling of two million tons of rice and 200,000 tons of rubber.

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Thailand will sign a government-to-government (G-to-G) deal with China on the selling of two million tons of rice and 200,000 tons of rubber.

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Minister of Commerce Gen. Chatchai Sarikallaya has expressed his hope that the two countries will be able to sign the deal on December. He said China, during the meeting between leaders of Thailand and China in APEC meeting in Beijing which was concluded several day ago, expressed interest in buying rice and rubber from Thailand when asked by the Thai leader.

The purchased rice and rubber would be delivered between 2015 and 2016, said Gen. Chatchai, adding that China’s COSCO Holdings would handle shipping procedures to guarantee the transparency of the project.

Moreover, , representatives from China’s state enterprises will visit Thailand on November 19 to discuss investment in the Thai rubber industry, which is part of the master plan to help shore up sagging rubber prices in the long run.

via สำนักข่่าวแห่งชาติ : Thailand to sign G to G deal with China on 2.2 million tons of rice and rubber.

Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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