As Xinhuanet reports, China and Thailand agreed to speed up cooperation on a joint railway project, in an effort to ensure an early start within the year.
During Li's Thai visit last December, he signed a memorandum of understanding (MoU) with Prime Minister Prayuth Chan-ocha to jointly develop a medium-speed railway connecting northeast Thailand's Nong Khai province, the capital of Bangkok and eastern Rayong province. The railway will also be a section of the planned railway running through southern China, Laos and Thailand.
"The railway will promote the two countries' economic development and facilitate trade cooperation and people-to-people exchanges between China, Thailand and the Indo-China Peninsula," Li noted.
He also voiced support for China's Belt and Road initiative and agreed to promote bilateral cooperation within the framework in the spirit of open and transparent.
According to Wang, the two countries also agreed to start a Lantsang-Mekong cooperation mechanism aimed to help countries along the river realize common development through complementary cooperation.
Pramudwinai said Thailand was willing to strengthen cooperation on water resources, drought control and disaster relief under the framework of the Lantsang-Mekong cooperation mechanism.
They also discussed relations between China and the Association of Southeast Asian Nations (ASEAN).
As Channel NewsAsia reports, Thailand's central bank cut its benchmark interest rate on Wednesday (Apr 29) in a surprise move highlighting the military government's struggle to revive the faltering economy.
The Bank of Thailand said in a statement policy board members voted by 5-2 to cut the rate to 1.50 per cent from 1.75 per cent, its lowest since July 2010.
The decision came just hours after the finance ministry downgraded its growth forecast for 2015 from 3.9 to 3.7 per cent.
As AsiaOne reports, Thailand and Russia aim to double annual bilateral trade in 2016 to US$10 billion (S$13.5 billion), Thai Prime Minister Prayuth Chan-ocha said on Wednesday after signing several agreements with Russian Prime Minister Dmitry Medvedev in Bangkok.
Medvedev's visit to Thailand is the first by a Russian prime minister for 25 years, lending high profile international support to a Thai military government that has faced opprobrium from old ally the United States for ousting a democratic government in May.
"We exchanged opinions on how to boost trade to $10 billion next year," Prayuth said in a statement read to reporters after meeting Medvedev.
The two signed five memorandums of understanding on Wednesday to boost co-operation on energy, investment, suppressing drug crime, tourism and culture.
As the Bangkok Post reports, seven gold futures dealers have agreed in principle on the format of a physical gold exchange, moving a step closer to establishing the country's first spot gold market.
The dealers, which have a combined 90% market share of trade in paper and physical gold, have unanimously agreed on the make-up of the spot gold exchange, said Gold Traders Association chairman Jitti Tangsithpakdi.
The plan will be proposed to the Thailand Futures Exchange (TFEX) on Aug 18.
Nine Dragons Blog
The latest news & trends online! Don't miss anything by subscribing to our Newsletter!