The comment came after the National Legislative Assembly recently ratified the ACFTA amendments, after the leaders of Asean and China proposed to upgrade and modernise the pact late last year.

The latest version of the ACFTA will come into effect on May 1.

Apiradi said the adjustment of the pact focused on the rule of origins, which after implementation will enable more than 3,000 Thai goods to have better access to the Chinese market.

“Trade and investment should grow after the recent agreement by both sides to eliminate technical trade barriers and relax some customs procedures for increasing flexibility in promoting more trade growth,” she said.

Some of the Thai products that will benefit from the upgrading of the ACFTA are chemical products, leather goods, wood and wood products, weaving fabric, garments, steel and iron.

In the service sector, Asean and China have also adjusted the agreement to promote more service-industry growth between both sides. Service businesses that China will now allow include travel agencies and tour operators, and financial service business including securities, construction engineering services and integrated engineering services.

In the investment sector, Asean and China have also agreed to facilitate more investment growth by setting up a One-Stop Investment Centre to facilitate investors on both sides.

China is currently the largest trading partner of both Asean |and Thailand. Trade between China andAsean grew fivefold from US$59.6 billion (Bt1.83 trillion) |to about $300 billion from 2003, when theFTA kicked off, until last year.