Today also brings to mind the close economic relations between Thailand and Taiwan. Taiwan has been an important economic partner of Thailand for over ten years. Taiwan is among the top ten export markets of Thailand. Investment from Taiwan ranks the 3rd largest of foreign direct investment in Thailand with total accumulative investment volume of around 10.94 billion US dollars. Taiwan's entrepreneurs have invested in Thailand because of Thailand's political stability, free market economy, good established infrastructure, similar Buddhism and oriental culture.
In addition, Taiwan is the home of the largest Thai workers in the world. These Thai workers have contributed to the competitive edge of Taiwan's economy. They work tirelessly in the manufacturing industries and infrastructure projects including subway, high speed railways and the Taipei 101 Building which is now the tallest building in the world.
On the other hand, the numbers of Taiwanese paying visit to Thailand for business, commerce, culture and tourist has reached 500,000-700,000 each year. This high number reflects the common sharing and understanding between the two peoples, and that of Thailand and Taiwan.
On agriculture, apart from the 33 years of technical cooperation between the Royal Project Foundation and the International Cooperation and Development Fund (ICDF) of Taiwan, both sides have signed the Agreement on Agricultural Cooperation on July 24, 2003 which will bring closer the cooperation on agriculture between Thailand and Taiwan.
For the first half of the year 2004, the Thailand's GDP is still at the high growth rate of 6.4 percent though the Thai economy has faced the slight slowdown growth caused by the Avian Influenza and the rising of oil prices. Thailand now clearly enters into a new phase of sustainable growth and development. Domestic demand, foreign direct investments and domestic direct investments, exports and tourism are key factors for the full recovery of Thai Economy. The New Bangkok International Airport or Suvarnabhumi Airport will be ready for operation in September 2005 with capacity of handling at least 45 million passengers per year.
The new airport will stimulate the development of a great range of economic, social and tourism-related growth in Thailand as well as will tremendously facilitate the investors from Taiwan to the greatest extent in coming years.
On this auspicious occasion, as the celebrations and state ceremonies in honour of His Majesty the King are being held in Thailand, I would like to invite the Taiwanese people to join with us in commemorating this happy event.
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