Canada to expand trade, investment cooperation with Thailand

BANGKOK, October 30 (TNA) - Canada has planned to expand trade and investment cooperation with Thailand in the lead-up to the establishment of the ASEAN Economic Community (AEC) by 2015. Canadian Ambassador to Thailand Philip Calvert spoke of the plan when he paid a courtesy call on Thai Industry Minister Prasert Boonchaisuk in Bangkok on Wednesday to discuss a 500-million-baht project of the Industrial Estate Authority of Thailand (IEAT) to set up the Emergency Planning, Preparedness and Response Center in the Map Ta Phut Industrial Estate in the eastern Rayong province. The Canadian top envoy later told reporters that a Canadian company with its experience in environmental management has planned to co-invest with the IEAT in software and environmental management elements of the project. According to the Canadian ambassador, he also discussed with the Thai industry minister on other issues of bilateral cooperation and both sides agreed to expand cooperation between the two countries on trade and investment. Thailand and Canada are discussing a bilateral free trade agreement (FTA), as Canada is focusing on Asian markets, especially those in the Association of Southeast Asian Nations (ASEAN), in the lead-up to the AEC by 2015. Canada is known to have expertise in environmental management and potential to invest in Thailand. Over the past decade, Canana has invested about 27.5 billion baht in 51 projects in electronic and automobile parts industries in Thailand. This year, Canadian investors have applied for promotional privileges from the Board of Investment of Thailand (BOI) for seven projects, worth altogether 400 million baht, including software and electronic projects. Meanwhile, Thai investors, especially PTT Exploration and Production Public Company Limited, have invested about 50 billion baht in Canada. (TNA)