China is considering an investment to link Thailand's Eastern Economic Corridor (EEC) and Kunming's special economic zone (SEZ) as the mainland looks to build a consolidated supply chain.
Chinese representatives will meet with senior Industry Ministry officials next month to discuss the link details, said EEC Office secretary-general Kanit Sangsubhan.
A high-speed train linking China and Asean is just one of many Thai-Chinese investments under the One Belt, One Road policy.
The Kunming SEZ is China's largest and newest investment. The 150-square-kilometre high-tech park will propel the development of the targeted EEC industries.
The EEC is being promoted as the flagship project to bring Thailand into the 4.0 era and raise the country out of the middle-income trap, with the government pouring massive investment into deep-sea ports, airports and high-speed trains to link the EEC to other provinces and the world.
The corridor spanning more than 30,000 rai in the three eastern provinces of Rayong, Chon Buri and Chachoengsao is projected to help generate new investment of up to 1.5 trillion baht within five years from both the public and private sectors.
The area is meant to serve as Thailand's new growth engine through 10 targeted industries: next-generation cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.
Speaking at the Boao Forum for Asia Bangkok Conference yesterday at a seminar entitled "Asian Regional Cooperation: New Challenge, New Approach", Mr Kanit said the Thai government is ready to build trade and investment infrastructure to become the centre of regional cooperation, particularly with the Kunming SEZ.
Mr Kanit said all Asean countries should make use of improving infrastructure and cooperation, not only through bilateral trade ties but also through multilateral trade cooperation.
"Thailand has a clear plan to build infrastructure to capitalise upon, which includes deep-sea ports, the plan to modernise U-tapao airport and massive investments in rail projects to link with China's One Belt, One Road policy," Mr Kanit said.
Former World Trade Organization director-general Supachai Panitchpakdi said Asean and China have multiple economic ties and the time has come to translate the cooperation into sustainable growth.
Asean countries are discussing a greater partnership with the Regional Comprehensive Economic Partnership (RCEP), which includes the Asean countries along with China, Japan, South Korea, India, Australia and New Zealand.
"The RCEP will help expand the export market to 16 members, including China, which is a massive market that has been building connections with Asean," Mr Supachai said.