China, Thailand seek alternative to 'rice for rail' plan

(ECNS) -- China and Thailand are working to find another way for the former to participate in the south-east Asian country's high-speed rail project, after the "rice for high-speed rail" program drew to a halt due to turmoil in Thailand, the 21st Century Business Herald reported, citing Phaichit Viboontanasarn, commercial minister at the Thai embassy in Beijing.

Viboontanasarn said his country and China agreed on not binding rice trade to Thai high-speed rail. "The agreement is more equitable for China in exporting high-speed rail trains and technology, and can benefit both countries more."

Measures for bilateral relations released last October when Chinese Premier Li Keqiang visited Thailand revealed that China intended to participate in Thai high-speed rail projects, with agricultural products as part of payment. The plan ran aground in February as Thailand fell into political crisis.

The commercial minister added that China would continue to buy Thai rice, and that it has shown interest in infrastructure investment in his country, while on the other hand, Thailand is interested in China's high-speed rail technology and its cost effectiveness.

"I believe China will gain an advantage if the Thai government initiates bidding for the rail project," Viboontanasarn said.

Thai authorities have reportedly approved a high-speed railway project linking the country and southern China late in July. However, Viboontanasarn commented that it would take longer as the railway needs to pass through Laos.