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Chinese back ACD initiative
During a recent visit to Thailand, the chairman of the
Chinese National Assembly Li Peng expressed his support for the Asian
Cooperation Dialogue (ACD), initiated by Prime Minister Thaksin Shinawatra,
saying the initiative would strengthen the Asian region.
A guest of the Thai Parliament from September 3-8, Li
said that Beijing was ready to support the forum, as it would not only
help strengthen the Asian region, but also foster balance in trade and
other areas among countries in the region. Thailand’s Prime Minister
initiated the setting-up of the ACD as a new central forum in the region
to discuss and work out cooperative issues in trade and other areas among
Asian countries.
During the meeting, the Chinese top parliament leader
and Premier Thaksin also discussed long-time bilateral ties and
cooperation, according to Thai Ambassador to China Don Pramudwinai. Mr.
Li, who is a former Chinese prime minister, took the opportunity to thank
the Thai government for its ‘one-China policy’, said Don, who also
attended the meeting.
Beijing recently threatened to call a halt to imports for fresh longans
into China because they were allegedly contaminated with phosphorus. The
second-ranked Chinese leader pledged that Beijing would give Thai
authorities more time to address the problem. (TNA)
Jewelry export remains
promising despite global slowdown
The prospect of the country’s export of precious
stones and ornaments remains promising even though the overall export of
the product has been affected by the global economic slowdown. Sunee Sri-orathaikul,
president of the Thai Jewelry Traders’ Association, said many jewelry
exporting countries have experienced repercussions from global economic
sluggishness during the year.
However, Thailand’s export of the product continued
to grow, she said, adding that this year’s export value was expected to
reach 95 billion baht.
The association is holding the 30th Bangkok Gems
Exhibition at the Impac International Trade Exhibition Center during the
month of September. This year, since the Thai ruby has been recognized as
the most beautiful precious stone with the best quality and cutting, 2002
has been designated as the Year of the Ruby. (TNA)
Three government agencies agree local economy will grow over 4.5% this year
The Ministry of Commerce, the Bank of Thailand, and the
National Economic and Social Development Board expects the country’s
economy to grow 4.8-5% this year unless the economy in the United States
worsens.
Deputy Commerce Minister Suvarn Valaisathien said the
central bank told the cabinet meeting that the overall economy in the past
seven months expanded 4% of the gross domestic products (GDP). Unless
untoward external incidents arise in the remaining five months of this
year, the ministry, BOT, and NESDB believe the economy will grow 4.8-5%,
boosted by an increase in production, people’s consumption, and private
investment.
Suvarn said the Commerce Ministry projects this
year’s exports will expand by 3.5% to reach around US$65 billion with
rice, para-rubber, cassava, and pineapple enjoying good prices. “Many
economic indicators have now improved. In July, export and import,
particularly autos and motorcycles, increased significantly. The balance
of payments has improved considerably, foreign debts decreased to $65
billion and our international reserves increased to $38.6 billion,” he
said.
Private investment has also picked up with the
production utilization in the industrial sector rising to 58.8% from 50%.
The public’s purchasing power remains stable and local consumption has
improved dramatically. (TNA)
Philippines to buy 25% white rice from Thailand
Commerce Minister Adisai Bodharamik recently announced
that Manila has agreed to purchase 75,000 tons of 25% white rice from
Thailand. Thailand will begin to ship the rice to the Philippines next
month, he stated.
Under the rice deal, Manila would make 50% of the
payment for the rice in cash; while the rest will be cleared based on the
counter trade system, said Adisai.
Thailand is a world rice exporter; while the
Philippines is the largest rice importer in Asia. (TNA
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