16:12 | 07/12/2015 Global Economy
Thailand recently signed a memorandum of understanding (MoU) with China on the selling of rice and rubber to Chinese firms.
Illustrative photo (Source: baotintuc)
According to the Thai Minister of Commerce, 1 million tonnes of newly-harvested rice will be sold to the China National Cereals, Oils and Foodstuffs Corporation (COFCO). Thailand will also sell 200,000 tonnes of rubber latex to China’s national chemical corporation Sinochem.
The delivery of rice and rubber will begin next year.
Since the coup last year, Thailand has clinched government-to-government (G-to-G) rice deals with China, Indonesia and the Philippines. Including the new deal, total rice volume China purchases from Thailand is 3.4 million tonnes, valued at 50 billion THB (1.4 billion USD).
On the same day, the two countries signed another MoU affirming their commitments to building a railway from the Thai capital of Bangkok to Nongkhai in the northeast region.
Work on the project’s control centre will kick off on December 19./.