Yingluck hopeful about Thailand’s chances in African market


Mozambique (Photo credit: F H Mira)

Prime Minister Yingluck Shinawatra has led Thai businessmen to explore trade opportunities in Africa on her official visit to Mozambique, Tanzania and Uganda. Ms Yingluck’s African trip is aimed at boosting economic, academic and political cooperation between Thailand and the three countries. The businessmen who are accompanying the premier are from various industrial groups, such as energy, construction, agro-products, automobile and jewelry.  The Thai prime minister said Africa is a continent with abundant natural resources and continuous economic growth. She added that Africa’s needs for academic and investment support from Thailand had created good opportunities for Thai businesses. PTT Exploration and Production (PTTEP), Thailand’s leading energy firm, has already begun 2-billion-baht investment in Mozambique after more than 100 trillion cubic feet of natural gas, or four times more than Thailand, was found there.  Apart from PTTEP, Italian-Thai Development is poised to build a railroad system and a deep sea port in Mozambique. The new port will become the continent’s largest sea port once completed and will be connected with Myanmar’s Dawei Deep Sea Port, resulting in a more convenient transportation of goods between Thailand and Africa. (Source)

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