Taiwan, Thailand sign seven MOUs on industrial cooperation

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Annual Thailand-Taiwan Industrial Collaboration Summit (CNA photo)

Annual Thailand-Taiwan Industrial Collaboration Summit (CNA photo)

Bangkok (CNA) Taiwan's Chinese National Federation of Industries signed seven memorandums of understanding (MOU) with the Federation of Thai Industries (FTI) in Bangkok on Tuesday to create new opportunities for cooperation across various industries.

At the annual Thailand-Taiwan Industrial Collaboration Summit, Taiwan Vice Economics Minister Lin Chuan-neng (林全能) said the MOUs will increase the willingness of Taiwanese businesses to work with Thai companies in the food, textile, machinery, unmanned aerial vehicle and "smart city" sectors.

According to the vice minister, the MOUs could give Taiwan and Thailand a big advantage and help the two countries get more orders amid the ongoing trade war between the U.S. and China.

FTI Chairman Supant Mongkolsuthree said at the summit that Thailand welcomes Taiwanese companies to invest in the country's Eastern Economic Corridor, which is aimed at helping Thailand emerge as an industrial powerhouse.