(Bloomberg) -- China and Thailand are set to sign an agreement to waive visa requirements for travelers between the two countries starting March 1, as Foreign Minister Wang Yi is due to visit the Southeast Asian neighbor this week.

Wang will sign the deal for China, a major source of foreign visitors for Thailand, during his visit between Jan. 26 to 29, the Thai Ministry of Foreign Affairs said in a statement on Thursday. The agreement will come weeks after Prime Minister Srettha Thavisin revealed that the bilateral deal was being discussed ahead of the expiration of a temporary visa exemption for Chinese visitors on Feb. 29.

Wang’s visit to Thailand, the first since July 2022, is aimed at enhancing cooperation between the two countries on trade, investment, security, tourism, and at exchanging views on regional and international issues, the Thai foreign ministry said. 

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Chinese tourists were Thailand’s largest group of visitors before the pandemic and are seen as key to a sustained recovery of the country’s tourism industry, which is a main driver of its economic growth. Travelers from the mainland accounted for more than 25% of the 40 million foreign visitors in 2019 but made up only about 3.5 million out of the 28 million tourists last year.

Thailand is targeting 35 million foreign arrivals this year, including 8 million from China. The return of Chinese tourists is expected to accelerate when the new visa privilege starts, Bill Heinecke, chairman of the Bangkok-based hospitality giant Minor International Pcl said earlier this week.

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Thai government spokesman Chai Wacharonke earlier this month said that under the new arrangement to be signed, Chinese tourists will be allowed to stay for a maximum of 30 days per entry in Thailand and vice versa. A total of 90 days stay is allowed in case of multiple entries within 180 days, Chai had said.

Last year, Thailand also issued temporary visa waivers for travelers from Russia, Kazakhstan, India and Taiwan and it has also been planning to allow longer stay for tourists from specific countries to spur spending.

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