Dancers perform at a conference. [Photo provided to China Daily]

Thailand attracted roughly 1 million visitors for business events in the fiscal year 2015 (October 2014 to September 2015), and associated revenue hit 95.9 billion baht ($2.7 billion). That included 110,000 Chinese MICE travelers, contributing 9.2 billion baht. The momentum continued when 47,455 Chinese business-event travelers visited during October 2015-March 2016, contributing 4 billion baht to the Thai economy.

Under the terms of the agreement, TCEB and CCOIC have agreed to establish a long-term partnership in several areas and across several MICE platforms. This includes a plan to further improve and regularly exchange information on trade promotion, and a commitment to providing support and encouraging academic research, business trade missions and participation in trade events in both countries.

"Thailand and China have enjoyed more than 40 years of relations and mutual prosperity in which trade between the two nations now exceeds $63 billion annually," says Nopparat Maythaveekulchai, president of TCEB.

The MOU has been initiated so that enhanced cultural and economic exchanges will improve and enhance the MICE industry.

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