China’s Belt and Road Initiative (BRI) strengthens production capacity cooperation among the Association of Southeast Asian Nations (ASEAN) countries, including Thailand, and deepens cooperation between ASEAN countries and China in various fields such as trade and production, said a Thai expert.
Sompop Manarungsan, president of Bangkok-based Panyapiwat Institute of Management, told Xinhua in a recent interview that the ASEAN countries, most of which are developing countries, possess substantial economic growth potential, and have significant opportunities for cooperation with China in both infrastructure construction and capacity cooperation.
China is one of the most important trading partners for ASEAN countries.
The upgrading of China’s industries and its high-quality development have far-reaching influences on ASEAN nations, Sompop said.
The Thai expert noted that the Regional Comprehensive Economic Partnership (RCEP) agreement and the China-ASEAN Free Trade Area agreement have further deepened trade and investment cooperation between ASEAN nations and China.—Xinhua
