In close collaboration with three Thai leading banks which have regional offices in Shanghai, namely Bangkok Bank, Kasikorn Bank and Siam Commercial Bank, the Royal Thai Consulate-General in Shanghai has successfully established “the 1^st Bangkok-Shanghai Economic Conference” which took place at Hilton Shanghai Hongqiao on 19 September 2018.  The conference is an advanced economic and financial mechanism which provide a platform for leading Thai-Chinese public and private sectors, and development partners from Bangkok to Shanghai, a sister city, to interact, exchange views and make recommendations on how to concretize cooperation in trade, investment and finance.

           The three executives from Thai Banks, Mr. Chaiyarit Anuchitworawong, Senior Executive Vice President, Co-Head of International Banking Group, Bangkok Bank, Mr. Anan Lapsuksatit, Executive Vice President of World Business Group at Kasikorn Bank,
and Mr. Manop Sangiambut, Executive Vice President for China Business, Siam Commercial Bank, participated in the event and shared perspectives on their crucial role in supporting bilateral investment between Thailand-China, with one hundred participants from both private and government sectors. High level participants from the Chinese government including Mr. Sun Weimin, Secretary General of Shanghai Public Diplomacy Association and, Ms. Zong Yuyan, Director of Shanghai Municipal Commission of Commerce.

          In her opening remarks, Ms. Sasirit Tangulrat, Consul-General of Thailand in Shanghai, emphasized that the government of Thailand attaches great importance to the development of proactive economic policies to overcome middle-income trap, and promote “digital economy” and “Thailand 4.0”, or a valued-based economy driven by innovation that advances national reform.  She noted that new S-Curve industries, such as Aviation, Digital Industries and Financial Technology, are well placed to link with “Made in China 2025”, and Shanghai’s path to become a global center for technology and innovation by 2020.

          The top Thai executive bankers emphasized that opportunities and challenges in technology’s disruption was among the top priorities between the two countries. Industries, from retail to transportation, are increasingly being influenced and shaped by the rise of new technologies and digital innovations, and China is currently transforming into digital economy at the fastest rate. For instance, the implementation of e-commerce platform will provide an unprecedented opportunity for Thai SMEs and local products entering into China’s massive domestic market.

           Mr. Sun Weimin, Secretary General of Shanghai Public Diplomacy Association, noted that the ongoing US-China trade dispute provides opportunity for China’s global leadership role in advancing economic globalization and trade liberalization.  Mr. Sun Weimin is of the opinion that US-China trade spat opens new opportunities for enhancing trade cooperation between Thailand and China.

          The conference provided new business matching platform to attract China’s investment through the development of Eastern Economic Corridor (EEC). Many Chinese leading companies have expressed interests in making investment in EEC including in transportation, food and agriculture, health and wellness.

          In recent years, the Chinese government has announced a goal for Shanghai to become
a global center for technology and innovation by 2020.  As China’s center for finance, trade, technology and innovation, there are around 25 leading private sectors in Thailand opened representative office in Shanghai to greater expand business into Chinese market.
For example, Charoen Pokphand Group started investing in Shanghai since 1994, and
recently, Tao Kae Noi, one of the largest seaweed snack manufacturers in Thailand opened its representative office in Shanghai in September 2018.

          Through close collaboration with Thailand’s leading banks and private sectors, the
1^st Bangkok-Shanghai Economic Conference has greatly enhanced Thai SME’s capacities to operate competitively, especially in the areas of financial technology, innovation, medical tourism, and grab opportunities that may arise from US-China trade dispute,
as well as create policy linkages in advancing complementarities between Thailand’s 4.0 Strategy and China’s Belt and Road Initiatives.