Thailand to Benefit from Growing China – Russia Trade
The rapidly growing China/Russia Trade deals will drive economic growth throughout ASEAN, Thailand with it’s strong manufacturing and agricultural base is one of the countries with the most to gain in the changing nature of global trade.
The Thai-China rail link will become a major trade route and dramatically improve Thailand’s exports.
According to the Russian president, the creation of a belt of economic development and trade between Asia and Europe is an urgent and important initiative that takes into account the trends in the world economy.
Asked if there’s a risk the Chinese economy could swallow Russia, President Putin said Russia is not a fearful country, adding that this is not China’s strategy. The Russian president stressed that Moscow would only sign agreements with Beijing which are mutually beneficial.
The Chinese spokesman said that “in the first four months of this year, Russian-Chinese trade grew at a very fast pace and its turnover increased by 26 percent to almost $25 billion.”
He added that “Russian exports to China rose by 33 percent in January-April while deliveries of Chinese goods to Russia expanded by 22 percent.”
The official also said food exports from Russia to China are growing at the quickening pace. “Due to the fall of world prices, China has also started to build up the imports of energy products from Russia,” he added.
The sides also plan a joint Russia-China Venture Fund to develop trade, economic investment, and scientific cooperation between the countries.
As a two-day summit on the project in Beijing wound up, the 30 nations also agreed to promote a rules-based, non-discriminatory trading system with the World Trade Organization at its core and to oppose protectionism, according to a joint communique signed by their leaders.
Xi on Sunday pledged $124 billion for the new “Silk Road”, which aims to bolster China’s global leadership ambitions by building infrastructure and trade links between Asia, Africa, Europe and beyond.
Some Western diplomats have expressed unease about the initiative, seeing it as an attempt to promote Chinese influence globally. They are also concerned about transparency and access for foreign companies.