Thailand to buy 155,000 tonnes coal from US

The Thai private sector has agreed to buy a total of 155,000 tonnes of coal from the United States after a meeting with Prime Minister Prayut Chan-o-cha in Washington DC, deputy government spokesman Lt Gen Werachon Sukondhapatipak said.

Lt Gen Werachon said the meeting with Gen Prayut followed an earlier meeting between representatives of the Thai private sector and the US Chamber of Commerce when the two sides exchanged information and opinions on trade and investment between the two countries.

Kalin Sarasin, chairman of the Board of Trade of Thailand and an executive of Siam Cement Group (SCG), said it was agreed that Thailand the US should implement the Treaty of Amity and Economic Relations between Thailand and the US to promote trade and investment between them.

A memorandum of understanding (MoU) on investment promotion will be drafted to cover the sectors on which Thailand and the US have the potential such as foods, energy and automobile.

The US Chamber of Commerce has agreed to act as a link between the Thai and US private sectors.

Mr Kalin said SCG will sign two contracts to buy a total of 155,000 tonnes of coal from the US private sector of offset a drop of coal supply from Indonesia.  Since Indonesia now wants a higher supply of coal for its own use, Thailand has to look for a new source of coal.  The US coal is of a high quality and worthy of investment, he added.

Gen Prayut, in his briefing to the Thai private sector, said his meeting with US President Donal Trump was smooth and friendly, adding that the two countries are ready to support their private sectors.

The prime minister asked agencies concerned to compile information on trade and investment and set up an information centre, similarly to the government’s Damrongtham Centre, to provide a unified guideline and direction for investment.

He also urged them to issue regulations which are conducive to investment according to the United Nations’ guideline.