On 23 November 2020, Mr. Yang Xin, Chargé d’affaires of the Embassy of the People’s Republic of China in the Kingdom of Thailand, and Mr. Boonyarit Kalayanamit, Permanent Secretary of the Ministry of Commerce of the Kingdom of Thailand, signed in Bangkok the Memorandum of Understanding on the Cooperation on Projects of the Lancang-Mekong Cooperation Special Fund 2020 on business project. China will support Thailand in carrying out cross-border trade research and promotion in the Lancang-Mekong Special Economic Zones.
Since the initiation of the Lancang-Mekong Cooperation(LMC) in 2016, the LMC Special Fund, funded by China, has supported 5 commercial projects led by Thailand, with a total funding of over US$2.1 million (approximately 65 million baht) and covering the joint development of special economic zones, the upgrading of regional logistics system and the development of rural e-commerce in Lancang-Mekong countries. Lancang-Mekong business projects demonstrate the good will of the countries in the region to build an open world economy, conducive to tapping regional cooperation potentials, narrowing the development gap between countries and urban and rural areas, and promoting sustainable regional development.