Thailand's export to China to improve in 2023: report-Xinhua

Thailand's export to China to improve in 2023: report

Source: Xinhua| 2023-01-12 00:05:45|Editor: huaxia

BANGKOK, Jan. 11 (Xinhua) -- Thailand's exports to China are likely to pick up steam in 2023 driven by China's recent announcement of optimizing its COVID-19 policy, according to a report released by Thailand's Trade Policy and Strategy Office (TPSO) on Wednesday.

China's optimization of COVID response will boost investor confidence, international trade and frequency of economic activity, all of which are positive signs for Thailand's exports to China, said Poonpong Naiyanapakorn, Director-general of TPSO.

This will be coupled with tax privileges under the framework of ASEAN-China Free Trade Area and the Regional Comprehensive Economic Partnership (RCEP), allowing China to import goods from Thailand at cheaper prices, particularly benefitting trade of fruits, food products, beverages and fashion products, he said.

According to TPSO, China is Thailand's second-largest export market, accounting for 12 percent of the latter's total exports, with a significant share of fruits and intermediate products such as electronic components and automotive parts.