18 May 2017

EEC tied to China’s One Belt, One Road

The government says the much-touted Eastern Economic Corridor (EEC) is ready to be an important part of China’s One Belt, One Road initiative, which envisions connectivity between China and Eurasia.

Speaking Monday at a seminar entitled “Thailand-Hong Kong-Shanghai Strategic Partnership on One Belt, One Road,” Deputy Prime Minister Somkid Jatusripitak said the EEC will link up with One Belt, One Road via a Thailand-China rail development project. That project will connect Bangkok-Nakhon Ratchasima-Nong Khai with Vientiane, Laos and Kunming, China.

A so-called maritime silk road will link eastern ports to Southeast Asia and the Indian Ocean rim.

Thailand is also committed to investing in a submarine cable linking Bangkok with Hong Kong and mainland China in an effort to develop Thailand as the digital hub of Southeast Asia.

The One Belt, One Road refer to China’s proposed Silk Road Economic Belt and Maritime Silk Road. Connectivity covers five major areas of interest: Policy coordination, infrastructure construction (including railways and highways), unimpeded trade, financial integration and people-to-people ties. Among these, infrastructure construction is the dominant feature of the New Silk Road.

Mr Somkid said the One Belt, One Road strategy initiated by Chinese President Xi Jinping in 2013 would result in benefits felt far beyond China.

“The world is now stuck in uncertainty from changes to US international trade policy to the exit of the United Kingdom from the European Union, along with mounting challenges from global liberalisation policies,” he said. “One Belt, One Road is the new hope for the world.”