Sign up | Log in



Home  >>   Daily News  >>   Thailand News  >>   Agriculture  >>   Thailand, China rice deal takes effect
NEWS UPDATES Asean Affairs   23 November 2012 

Thailand, China rice deal takes effect


A rice deal signed during Chinese Prime Minister Wen Jiabao's official visit has already taken effect with the Chinese private sector buying hundreds of thousands of tonnes of rice worth some 6.24 billion baht (US$203 million) from Thailand, helping relieve the domestic political and market pressure on the government.

Prime Minister Yingluck Shinawatra and Premier Wen yesterday witnessed the signing of a memorandum of understanding on the rice deal, which would facilitate rice trade between the two countries.

The MoU was not a government-to-government contract as widely understood, but an inter-government instrument to boost rice trade, a senior official said. Yesterday's purchases of rice totalled 260,000 tonnes of polished rice seeds.

The MoU says both sides will develop rice trading for the benefit of good relations and mutual benefit. Both parties will cooperate on the basis of transparency, justice and fairness between their rice-trading agencies.

The two governments will support proper management of rice trading in accordance with market principles, according to the government document released after yesterday's Cabinet meeting.

Under the MoU, the Chinese government will support the Chinese private sector's rice trading with Thailand, according to the Foreign Ministry's East Asia Department director-general Damrong Kraikruan.

The rice deal with China was the most watched agenda item during Premier Wen's visit, as the government was under political pressure after accusations from the Opposition and academics that its rice price-pledging policy had damaged the domestic market and had caused a decline in Thai rice trading.

The Opposition Democrat Party plans a censure motion debate in the House of Representatives next week against the government on the rice-policy issue.

However the rice deal was just part of the discussions during the visit of Premier Wen. The two leaders also witnessed the signing of three more pacts on cooperation between the foreign ministries of the two nations - on the transfer of prisoners and education cooperation.

The two leaders also considered cooperation on many other farm products, including tapioca, rubber and fruit, Yingluck said.

Thailand wanted to increase Chinese investment by 15 per cent annually, she said, adding that the various sectors open for Chinese investors included rubber processing, natural plastic, automobile production, infrastructure development for connectivity, the Dawei Special Economic Zone in Myanmar, a high-speed train, water management and flood prevention.

Premier Wen said China would support and cooperate with Thailand in accordance with the five- year plan of economic cooperation, which was signed recently.

The two countries will forge cooperation on infrastructure development, agriculture, investment and Mekong development schemes, he said.

"Development in Thailand not only brings benefits to the Thai people, but it would be a good condition for relations between Thailand and China," he said. "It is China's pleasure to cooperate with Thailand to help each other coordinate on regional affairs, notably to promote relations between China and Asean, for peace and prosperity in the region."

Wen also praised Yingluck's policy of giving importance to cultural and education cooperation. The two leaders jointly presided over an official opening of the Chinese Cultural Centre in Bangkok. Yingluck said Thailand would also open a Thai Cultural Centre in China soon.

Yingluck hosted an official lunch for Wen after their meeting at Government House. The Chinese premier later made a courtesy call on Privy Council President Prem Tinsulanonda.

His Majesty the King granted him a Royal audience at Siriraj Hospital before his departure for Beijing.

Wen will step down from office soon after the new set of leaders chosen by the Communist Party Congress take the reins. Yingluck conveyed her regards to the new Chinese leadership led by Xi Jinping and praised outgoing Wen as well as President Hu Jintao for their ability to bring economic success to China and the region.

Memorandum of understanding on rice

- Both sides will develop rice trading for the benefit of good relations and mutual benefit.
- Both parties will cooperate on the basis of transparency, justice and fairness between their rice-trading agencies.
- The two governments will support the proper management of rice trading in accordance with market principles.
- The MoU can be amended or revoked with consent of contracting parties.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    23 November 2012   Subsribe Now !
• 21st Asean Summit ends with compromise over sea dispute   Subcribe: Asean Affairs Global Magazine
• Obama to 21st Asean Summit: No reason for any escalation in sea dispute Asean Affairs Premium
• US, Brunei, Indonesia propose sustainable energy partnership
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• 5 nations support Philippines' position on sea dispute
• Asean urged to mobilise private sector for connectivity master plan  
• China pledges leading role to fight climate change
• Thailand, China rice deal takes effect  
• New Zealand provides $163,000 for Cambodia's Khmer Rouge tribunal  
• China’s PM Wen says, Thailand, China are one family  
Asean Analysis              23 November 2012 
Advertise Your Brand
• Asean Analysis- November 23, 2012  
• Asean Weekly-  November 23, 2012 Sponsor Our Events

Asean Stock Watch      November 22,  2012,  

• Asean Stock Watch- November 22, 2012 

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand