Thailand eyes mutual benefits, economic opportunity through BRICS membership

China

Thailand eyes mutual benefits, economic opportunity through BRICS membership

2024-10-20 17:20 Last Updated At：23:47

Joining the BRICS group will bring mutual benefits, characterized by trade and economic opportunities, according to Thai Deputy Prime Minister Anutin Charnvirakul.

BRICS now comprises Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates, with the latter five becoming its members in January this year.

Thailand is bidding to become the latest member of the group.

Russia, the host this year, has invited Thailand to attend October's BRICS summit, something Thailand hopes will be a stepping stone to full membership.

"Any economic and political partnership can always bring mutual benefits, when we start from mutual understanding and knowing one another well. With BRICS, we would share interests in economics and trade opportunities, including digital economy, alternative energy, and of course in assisting one another to promote in the sustainability development," said Charnvirakul.

Charnvirakul also stressed Thailand's offering to the group, as it serves as a strategic gateway to the ASEAN market and a key player in the global food security.

"I would like to emphasize that Thailand has much to offer to the BRICS members. We are at a strategic location in the middle of Southeast Asia, making us a gateway to the ASEAN market with over 600 million people. As one of the main food producers, Thailand could be a great partner for food security, as we aim to be the kitchen of the world," said Charnvirakul.

Thailand can also explore its strength in tourism after joining the BRICS bloc, said Charnvirakul.

"We also have a lot to offer from our tourism industry. If you look at each country in BRICS, you might agree with me that they are all unique and quite exotic to visitors, so is Thailand. This is the area that we can be creative in exploring ways to enhance our strength. And in the big picture, I would say that Thailand could be a bridge that connects BRICS with the ASEAN region for unlimited economic opportunities. With China as one of BRICS key members, I am certain that our journey with BRICS beyond the summit will move forward smoothly," he explained.

The 16th BRICS Summit, the first to be held after the BRICS expansion, is scheduled for Tuesday to Thursday in Kazan, Russia.

China firmly opposes US import ban on inverters, robots

A spokesperson for China's Ministry of Commerce on Thursday firmly opposed the U.S. decision to impose trade restrictions on imported power inverters and advanced robots, calling the measure "discriminatory".

The spokesperson made the remarks in response to the announcement by the U.S. Federal Communications Commission (FCC) on Tuesday local time to add power inverters and advanced robots produced in foreign countries to its "Covered List".

New models of these products will be barred from receiving FCC certification and from being sold in the U.S. market, according to the announcement.

The spokesperson noted that the FCC's relevant measures, while in the name of "non-discrimination", are actually discriminatory, targeting and suppressing Chinese enterprises and products. This is not the first time the FCC has taken such measures; it has previously imposed restrictions on various other Chinese goods.

For some time, the FCC, in disregard of China's repeated representations and its restraint, has continued to introduce and escalate restrictive measures. These moves have severely undermined China's legitimate trade interests, seriously disrupted the stability of bilateral economic and trade relations, and significantly destabilized global industrial and supply chains. China firmly opposes such moves, the spokesperson said.

According to the spokesperson, robots and power inverters are normal international commodities, from whose trade all parties, including the United States, benefit. However, the U.S. has overstretched the concept of national security, ignored the strong calls from the business communities on both sides, and resorted to administrative power to artificially interfere with normal commercial transactions and trade exchanges between enterprises, persistently pushing for decoupling and supply chain disruption. Such practices, harming others without benefiting oneself, are typical acts of market distortion and unilateral bullying.

China urges the U.S. to immediately revoke the relevant measures and stop its erroneous practices. If the U.S. insists on going its own way, China will resolutely take countermeasures to safeguard its legitimate rights and interests, the spokesperson said.