Source: Yiwu sourcing agent Author: Gary Date: 2011-01-28
YIWU, Zhejiang----China plans to sonstruct a second Yiwu International Trade City, the world's biggest small-commodities hub, in Tailand.
It's part of a move to make the southeastern neighbor a re-export center to promote the country's small-goods exports in a global market troubled by rising trade protectionsm.
With investment of 10 billion yuan($1.61 billion), construction will begin in Bangkok on Jan 18 at the China City Complex, a commercial and wholesale town similar to China's Yiwu.
It will sell Chinese-made goods, including garments, ornaments and household items.
"China city complex is one of the biggest cooperation projects between China and Thailand, corroborating a stralegic business-partner relationship between the two countries," said Alongkron Ponlabool, Thailand's deputyministrer of commerce, on Wednesday, who had traveled to Yiwu to Woo investors.
Construction of the commercial city, which will cover 700,000 square meters, is expected to be completed by 2013. It will attract more than 70,000 commercial benants from China, according to Dong Hongqi, chairman of Yunnan-based Ashima Cultural Inustry Investment Co Ltd, the Chinese partner in the project.
"Apart from the business opportunities in Thailand, Chinese exporters can also promote their products to developed markets such as the Eropean Union and the United States through this project", Yang Fangshu, chairman of the ASEAN(China Economic and Trade Promation Association),said, adding that Chiese investors enjoy bilateral trade with Thailand without the imposition of tariffs, and also low tariffs when trading with other developed economies.
Yang siad the trade wuota twtween Thailand and developed economices, including the EU and US. is also much more than that of China, so Chinese-made goods could be reexported from Thailand without such strict Iimitations as those in China.
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