The Cabinet approves MOU between Thailand and China to upgrade supply chains and promote EV, digital, and green industries.

The Cabinet has approved a Memorandum of Understanding (MOU) between Thailand and China to upgrade the supply chain, focusing on connectivity and promoting cooperation in the EV industry, information technology, innovation, and the green economy.

On July 14, 2569 at 14.28:XNUMX a.m. Ms. Lalida Periswiwatana, Deputy Government Spokesperson It was revealed that the Cabinet approved the draft Memorandum of Understanding on Strengthening Economic Cooperation in Industrial and Supply Chains between the Ministry of Commerce of the Kingdom of Thailand and the Ministry of Commerce of the People's Republic of China. The Cabinet also authorized the Minister of Commerce, or his/her designated representative, to sign the Memorandum of Understanding to enhance economic and trade cooperation in line with the rapidly changing global economic context.

Deputy Spokesperson for the Prime Minister's Office It was stated that this Memorandum of Understanding aims to promote cooperation in industrial and supply chains from upstream to downstream, facilitating entrepreneurs in both countries, especially micro, small, and medium-sized enterprises (MSMEs), and supporting collaboration between the government, private sector, financial institutions, and research institutions to develop long-term economic cooperation.

This cooperation will encompass the establishment of forums for discussions on economic recovery and job creation, infrastructure connectivity through the digital economy, and the promotion of cooperation in key industries such as information technology, minerals, electric vehicles, solar panels, green industries, technology and innovation, as well as other areas agreed upon by both sides. This will be linked to the upgrading of the ASEAN-China Free Trade Agreement (ACFTA 3.0) to enhance the competitiveness of both countries.

Ms. Lalida It was stated that China has been Thailand's number one trading partner for 13 consecutive years and is one of the world's important production bases. Therefore, the signing of this Memorandum of Understanding is a continuation of economic cooperation, information exchange, and joint activities in promising sectors. This will create new opportunities for Thai entrepreneurs, especially MSMEs, enabling them to connect more effectively to regional and global supply chains.

Deputy Spokesperson for the Prime Minister's Office Furthermore, it should be noted that this Memorandum of Understanding is a framework for cooperation between government agencies that has no binding effect under international law, is not a treaty, and does not fall under the category of a contract as defined in Article 178 of the Constitution of the Kingdom of Thailand. However, it is an important mechanism to promote continuous, systematic, and mutually beneficial Thai-Chinese economic cooperation in the future.

refer : www.thaigov.go.th

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