Thai Commerce Minister Says Country Will Double Trade With Myanmar in 5 Years


Thailand and Myan­mar aim to double the value of trade between the two coun­tries in the next five years, Thailand’s minister of commerce has said.

Speaking during a visit Myanmar, Apiradi Tantraporn said Myan­mar was a priority trade partner for Thailand.

She was accompany­ing Thai Deputy Prime Minister Somkid Jatus­ripitak early this month on his visit to Myanmar since Aung San Suu Kyi’s civilian government took power last year.

Trade with Myanmar’s eastern neighbour is worth hundreds of mil­lions of dollars annually, with Thailand making up around 12 percent of My­anmar’s border trade.

And with the vast ma­jority of trade between the neighbours happening over the border, Apiradi Tantraporn said overland routes were a key focus for cooperation.

A border trade centre serving Myawaddy in Ka­ren state and Mae Sot just across the frontier would be finished by the end of March, she said.

Deputy Prime Minis­ter Somkid Jatusripitak discussed the expansion of Thai-Myanmar land routes with President U Htin Kyaw in Nay Pyi Taw during the trip.

The Deputy PM said the US’s decision to remove itself from the Trans-Pa­cific Partnership, a mas­sive free trade agreement that is now all but dead after US president Trump withdrew, meant Asia has “now become the most important region.”

He called for coopera­tion among Thailand and its neighbours to push for an alternative trade pact that focuses more heav­ily on Asia, and unlike the TPP would include China.

The success of the Re­gional Comprehensive Economic Partnership depended on Thailand and others cooperating with Cambodia, Laos My­anmar and Vietnam, he said.

“Now is the time when superpowers are facing challenges,” he added. “If we are united, we will be able to address the chal­lenges and compete with other countries. As the United States recently left the Trans-Pacific Partner­ship, I believe Asia has now become the most im­portant region.”

Thailand and Myanmar signed 16 Memorandums of Understating during the visit, with agreements focusing on the digital sector, infrastructure and small and medium sized enterprises.

Source: Myanmar Business Today

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.