A high-powered trade and investment delegation led by Prime Minister Abhisit Vejjajiva yesterday clinched 18 business deals worth a combined Bt36 billion from its Chinese counterparts.

The deals were sealed in a memorandum of understanding between the two countries for exports of rice, rubber, tapioca, fresh fruits and jewellery to China.

The signing ceremony took place at the JW Marriott Hotel in Beijing on the second day of Abhisit's four-day official visit to its giant neighbour.

Commerce Minister Porntiva Nakasai said Thailand also brought a major agricultural-products caravan to Beijing, to expand the business network between Thai and Chinese entities further.

Porntiva said the Department of Export Promotion entered into an agreement with the Northern International Group in Tianjin to promote shipments of Thai agricultural and industrial goods to China.

Second, the Thai Foreign Trade Department signed deals with Cofco and Power Unit of China for the sale of 1 million tonnes and 3 million tonnes of tapioca products, respectively.

Third, Thai Hua Rubber signed a deal with China United Rubber for the sale of 100,000 tonnes of natural rubber worth Bt5.5 billion.

Fourth, Thailand's Patcharavipa signed a deal with China's Taina International Group to set up a distribution network for 15,000 tonnes of Thai fruit per year.

Exports of Thai fruit to China have risen 35 per cent over the past three years, reaching US$140 million (Bt4.78 billion) last year. During the first five months of this year, shipments rose 13.7 per cent.

Fifth, Thai exporters signed six agreements with Chinese counterparts to sell a combined 145,000 tonnes of rice.

Source: The Nation