Integrity Legal

At a recent summit held to discuss relations between China and the Association of Southeast Asian Nations (ASEAN) the Prime Minister of Thailand stressed the importance of the ASEAN-China Strategic Partnership as a component necessary to bolster mutual prosperity in both China and the ASEAN region. Thai Prime Minister Yingluck Shinawatra noted that ASEAN approved of China’s efforts to improve the ASEAN-China Free Trade Area. Upgrading the free trade area would likely result in an increase in Sino-ASEAN trade.

Based upon information announced by the ASEAN Secretariat, in the year 2014 ASEAN appears poised to focus on quickly implementing targets for 2015. It also appears that ASEAN will be working towards unifying the community pillars of ASEAN, notably the ASEAN Economic Community (AEC), the ASEAN Socio-Cultural Community, as well as the ASEAN Political-Security Community. Post-2015, ASEAN may undertake initiatives to reinforce these efforts while also attempting to further engage other outside actors in the Asia Pacific and East Asia regions.

A recent joint statement from the visiting Chinese Premier and the Thai Prime Minister also noted that efforts are being made to improve relations between the Kingdom of Thailand and the Peoples’ Republic of China. The two leaders expressed their desire to see closer cooperation between their two nations in the form of investment in industry (with specific emphasis upon investment in the bio-plastics, green, and rubber industries).

Thailand and China renewed their commitment to promoting improved transportation infrastructure in the form of railway links between Thailand, Laos, and China. The two countries also discussed improved transportation channels in the form of roads, airports, and ports which could increase trade and tourism for both Thailand specifically and the region as a whole. The Chinese representatives reiterated their desire to assist in the building of a high speed railway system between Ban Phachi and Nong Khai, noting that payment for such endeavors may come, at least in part, in the form of agricultural goods.

The two countries also wish to strengthen cooperative efforts in the banking and financial spheres by promoting the use of the two nations’ currencies in matters involving Sino-Thai trade and investment. It also appears that the two countries are poised to discuss methods of improving RMB clearing services in matters pertaining to trade.

Most notably, at least for this blogger, was the announcement that China as well as Thailand are amenable to discussing, and possibly signing, a Memorandum of Understanding on exemption of visas. Apparently, a prospective Sino-Thai visa exemption scheme would allow holders of regular Thai and Chinese passports to enter each of these countries on a visa exemption stamp not unlike the current visa exemption stamps currently issued to travelers from many countries entering Thailand. The promulgation of a visa exemption scheme between China and Thailand could lead to increases in trade and tourism between the two nations.

Tags: AEC, ASEAN, ASEAN China Free Trade Area, ASEAN Economic Community, ASEAN Political-Security Community, ASEAN Socio-Cultural Community, ASEAN-China Strategic Partnership, ASsociation of Southeast ASian Nations, high-speed railway, Sino-Thai visa exemption scheme