Hong Kong to set up trade and economic office in Thailand

BANGKOK, November 8 (TNA) - Hong Kong, as a Special Administrative Region (SAR) of China, plans to open its trade and economic office in Thailand in the near future. The Thai Cabinet, at its weekly meeting at Bangkok's Government House on November 7, approved of the plan in principle and assigned the Ministry of Foreign Affairs to lead a Thai delegation to hold talks with the Hong Kong SAR and the Chinese government on immunities and other relevant issues, prior to the establishment of the office. Meanwhile, a latest study of Burapha University found that Thailand's welfare could increase by about 157 million US dollars and current account surplus could reach about 28 billion US dollars if there was zero tariff on Thai exports to Hong Kong and goods transported between China and the Hong Kong SAR, while Hong Kong imports to Thailand would be imposed by a low tariff rate. The study said if there was zero tariff, Thai exports to Hong Kong, particularly leather products, electronic devices and other industrial products, should also increase, while Thailand trade in services globally, namely retail, wholesale and cultural services, as well as hoteliers and restaurants, should also increase. (TNA)