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CCI-ILSTC Thailand Projects in CQ
The signing ceremony of the New International Land-Sea Trade Corridor (ILSTC) contracting ceremony for Thailand cooperation projects.
Chongqing- The signing ceremony of the New International Land-Sea Trade Corridor (ILSTC) contracting ceremony for Thailand cooperation projects kicked off in Chongqing on July 1, and a series of cooperation projects involving international logistics, trade, financial services, and health care was signed.
Reaching the Middle East and Europe via Chongqing
PTT Public Company Limited (PTT) is a Fortune 500 company controlled by the Thai government. Its main business includes oil and gas exploration and development and gasoline selling. It also operates the China-Laos railway.
The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administration Bureau (CCIB) signed a strategic cooperation agreement with PTT. Both sides aim to explore Chongqing’s ASEAN import and export commodity distribution center in combination with Thailand’s logistics resources, such as railways, ports, aviation, and highways, creating a two-way corridor from Southeast Asia to Europe via Chongqing.
“Chongqing is a freight rail transportation, a heavy industry center, and a gateway to investment and trade,” said Chansak Chuenchom, Senior Executive Vice President of PTT. “Chongqing can ship goods to Thailand and ASEAN, such as electronic products, computer parts, machinery parts, etc.”
Chuenchom continued, meanwhile, Thailand and ASEAN could transport durian, rubber, cassava, and other products, to Chongqing and other regions of China, and continue to transport to the Middle East and Europe.
The Chongqing-Bangkok two-way railway route
PTT,?Nathalin Group, Yuxinou (Chongqing) Logistics Co., Ltd., and Jiangjin Luohuang Port Industry City have agreed to build the Chongqing-Bangkok two-way railway route, a two-way route connecting Europe to Southeast Asia via Chongqing, radiating a more expansive range through maritime ports.
Established in 1987, Nathalin Group is Thailand’s most influential fuel transportation and storage service group. It will deeply participate in China-Laos railway transportation and extension project cooperation in the future.
Jiangjin Luohuang Port Industry City is located south of Chongqing’s main urban area, with Jiangjin Comprehensive Bonded Zone, a state-level open platform, and Luohuang Port, one of the four Yangtze River hubs in Chongqing, and Xiaonanya Railway Logistics Center, a state-level railway logistics center. They have successfully opened the ILSTC cold chain express line, Luohuang-Shanghai container transportation line, and Chengdu-Chongqing economic circle water shuttle bus.
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of around 500 offices in 19 countries and territories. ZM Logistics is a benchmark enterprise in China’s cold chain industry.
PTT, Nathalin Group, ZM Logistics, UOB (China) Chongqing branch and UOB (Thailand) inked a cooperation agreement. They will operate a warehousing and distribution business rely on ZM Logistic’s cold chain facilities located in Luohuang and share China’s fruit market through the sales channels of ZM Logistics.
A comprehensive logistics land port full of opportunities
Jiangjin District is located at the Belt and Road and Yangtze River Economic Belt junction. It has many advantages, such as the national comprehensive bonded zone, Luohuang multi-modal transport, and Shuangfu Agricultural Products Market, the largest agricultural products trading market in Southwest China. Over 60% of imported fruits from ASEAN countries in Chongqing are distributed from Shuangfu.
Soon, it will become a comprehensive logistics land port. The CCIB has promoted cross-border financing modes like international commercial loans, cross-border bond issuance, real estate investment trust issuance, and listing in Singapore. The CCIB will encourage more Singapore financial institutions to serve Jiangjin District.
“The scene that the ILSTC connects western China and ASEAN countries extends to the hinterland of the Eurasian continent and beyond, contains great opportunities for opening-up, cooperation, development, and win-win results,” said a related person in charge of CCIB. “In particular, as the Regional Comprehensive Economic Partnership (RCEP) has officially come into force and the China-Laos Railway has been put into operation, exchanges and cooperation between western China and ASEAN countries are getting closer and deeper.
Sourcing: Chongqing Sino-Singapore Demonstration Project Administration