| The two countries, China and Thailand, have had a long history of close relationship for more than 700 years. The two countries officially established the diplomatic relation in1975, and have been constantly signing a series of agreements since then, for instance, "Trade Agreement", "Shipping Agreement", "Agreement for promoting and protecting Investment" and "Agreement for Preventing Double Taxation". In nature, the vital reasons are that the two countries, China and Thailand, are all developing countries, their political relation is fine; both countries are situated in Asia-Pacific region, similar for geographic location, a good condition for developing economic and trade relation; both sides hope to put forward for developing economic and trade cooperation. Therefore, the economic and trade cooperation of both countries have the great potential and prospect. Presently, The Sino-Thai's economic trade relation involves three aspects, which are trade, investment and tourism.First, for Trade, the two countries formally built up diplomatic relation on 1 July 1975. Then, Sino-Thai's trade has been constantly increasing. In 2000, the volume of trade of China and Thailand was about 62.2 billion U.S dollars. In 2001, the volume of trade of China and Thailand reached 65.7 billion U.S dollars; in which, Thailand exported to China was 28.73 billions, grew by 5.5%, and Thailand imported from China was 37 billion U.S dollars extended by 7.6%. The most important exported from Thailand to China was 29% of primary products and 71% of industries-manufactured articles. The most vital imported from China was 7% of primary products and 93% of industries-manufactured articles.Second, for Investment, Thailand is one of earliest Southeast Asia countries to invest in China. Investments of Thai enterprises in China mainly are Food Processing Industry, Banking, Construction-related Material Industry, Electronic Power Industry and Paper Industry, etc. Thailand based Chinese enterprises invest mostly in banking, constructing, chemical industry and restaurant, etc.Third, for Tourism, the number of Chinese tourists and Thai tourists both grew gradually in 2002. At the present, for the convenience of Chinese tourists traveling to Thailand, Tourism Authority of Thailand has opened an office in Beijing. The government of the People's Republic of China and the government of the Kingdom of Thailand had pushed for "Accelerated Tariff Elimination under the Early Harvest Programme of the Framework Agreement on Comprehensive Economic cooperation between China and ASEAN". According to the agreement, from 1 October 2003, both countries have to eliminate the tariff on vegetables and fruits products. The establishment of Sino-Thai Free Trade Area will hasten both sides to play more important role, widely expand mutual honest cooperation and common development. As Sino-Thai Free Trade Area was built, the volume trade of China and Thailand are accordingly rising.Both China and Thailand are members of World Trade Organization, so foreign trade policies of each country are conformed to all articles of the Agreement and the Treaty of World Trade Organization. For example, the government enacts the tax, quota, subsidy or state-run-trade policies, must hew the principle of the World Trade Organization, which concerned to non-discrimination, equality, and mutual. China's accession to the World Trade Organization bears great beneficial for Thailand to trade with China, but there still is disadvantageous factors. The advantageous factors include: (1) For Trade part, due to China entered to World Trade Organization, according to the rules of World Trade Organization, it has to reduce the trade barriers. Therefore, Thailand can increase its export, especially in agriculture products. (2) For investment and tourism part, after entry the World Trade Organization, the China government permits foreign private enterprises cooperate with Chinese private Enterprises. So it is the great opportunity for Thai private enterprises. The disadvantageous...
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