Thailand, U.S. to promote fundraising for infrastructure

BANGKOK, July 21 (Reuters) - Thailand’s cabinet on Tuesday approved a draft framework for cooperation with the United States to promote fundraising for infrastructure projects via capital markets, a government official said.

Both countries will jointly set guidelines and identify opportunities to develop infrastructure and remove obstacles to capital market access, deputy government spokeswoman Rachada Dhnadirek told a news briefing.

The cooperation with the United States, with its large capital market and investor potential, would benefit Thailand’s large scale infrastructure development under its 20-year strategic plan, Rachada said.

The United States is also a major market for Thai exports and a big foreign investor in the country.

Rachada said it was the first time that Thailand would cooperate jointly with another country for such projects.

Singapore, South Korea and Vietnam have signed similar agreements with the United States, she added. (Reporting by Panarat Thepgumpanat; Writing by Orathai Sriring; Editing by Martin Petty)