China buys large lot of Thai rubber products

BANGKOK, February 29 (TNA) - China has purchased a large lot of rubber products from Thailand, worth over 3.85 billion baht, while many other countries have also expressed their interest in buying more Thai rubber products. Thai Commerce Minister Apiradi Tantraporn told journalists that a memorandum of understanding (MOU) was signed in Bangkok on Monday between a Thai rubber trading firm and three Chinese rubber importing firms, under which the Thai firm sells a total amount of 110,000 tonnes of rubber products to the three Chinese firms, totally worth 3.85 billion baht. Apiradi said the MOU, inked at a meeting between Thai rubber producers and 150 foreign rubber importers from 28 countries worldwide and organised by her ministry, showed a positive prospect of Thai rubber exports. Apiradi revealed that India has also expressed interest in buying rubber wood from Thailand, worth more than 40 million US dollars. Apiradi announced that the one-day meeting is considered successful as importers from fellow countries in the ASEAN Community (AC), as well as India, South Korea, Japan, Saudi Arabia, Turkey, the European Union (EU), the United States, Russia and South Africa attended, along with about 110 Thai rubber traders. According to the commerce minister, foreign importers expressed their interest in buying several Thai rubber products at Monday's gathering, including tyre, pillow and mattress, gloves and wood. It is hoped that over 10 billion baht of purchase deals should be made straight away at Monday's meeting and buying negotiations should be held regularly later. Meanwhile, three Thai government agencies, including the Ministries of Commerce and Agriculture and Cooperatives, as well as the Rubber Authority of Thailand, plan to lead local rubber traders to visit several countries in the future. The plan was arranged after recent visits to Russia and Belarus by two Thai deputy premiers, General Prawit Wongsuwan and Somkid Jatusripitak, which were successful, as Russia wanted to buy more than 80,000 tonnes of Thai rubber products, while several Russian firms also wanted to invest in setting up a tyre plant in Thailand. Last year, Thailand exported natural rubber and rubber products, totally worth more than 11 billion US dollars, with major buyers including China, Japan and the United States. (TNA)