China -- Both Trade Partner, Competitor for Thailand: Report

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Last updated at: (Beijing Time) Thursday, July 25, 2002

China -- Both Trade Partner, Competitor for Thailand: Report

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Thailand needs to try to turn crisis into an economic opportunity in terms of trade and investment cooperation with China as the latter has a potential tobecome both its trade partner and competitor, a leading Thai thinktank has said.

In its report available Wednesday in Bangkok, the Thai Farmers Research Center (TFRC) said China appeared to be a new main destination of Thai food products including sugar, cassavas, vegetable oil, and frozen chicken when the products had now experienced strict examinations in Europe, which is its existing destination.

However, in fact, China had a potential to be both trade partner and rival of Thailand in various kinds of foods including chicken, fishery products, vegetables, fruits, rice, canned foods,sugar, and animal feed.

China's exports of these products except sugar and animal feed had outpaced its imports in terms of value, according to the report, adding that it showed the country had played a more important role as both trade partner and competitor of Thailand.

The TFRC said the agriculture development in China is part of the country's internal political policy. Producers and exporters of farm products are given full state support.

But it is likely that the scenario would change when China becomes a member of the World Trade Organization because the country must turn to stress market mechanism.

The report said that Thailand's agriculture industry would benefit from China's entry into WTO since it has an opportunity toexpand exports of foods to that country in the next five years.

An increased investment in the agriculture industry in China would also benefit Thailand, because consumer behavior in that country is changing and the food process industry is growing rapidly, it added.

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