Govt policies expected to bolster border trade by 50% to Bt1.5 trillion this year
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THE Commerce Ministry is targeting cross-border trade increasing 50 per cent to Bt1.5 trillion this year as a result of the government's special economic zone policies and cross-border-trade promotion plans.
After leading a Thai trade delegation to Tak’s Mae Sot district yesterday, Commerce Minister General Chatchai Sarikulya said Thailand’s cross-border trade had seen strong growth this year due to many government projects and policies.
“Cross-border trade, particularly with Myanmar, should grow significantly due to the first special economic zone linking Thailand’s Tak and Myanmar’s Myawaddy being established this year,” said Chatchai.
During the trade mission, the Thai minister met with Myanmar Commerce Minister U Win Myint to discuss trade, investment and economic cooperation.
The two countries have agreed to cooperate to support Thailand’s plan to establish special economic zones in Mae Sot and support a “twin city” project to promote trade and investment between the countries through Mae Sot and Myawaddy.
Moreover, the Board of Trade of Thailand and the Union of Myanmar Federation of Chambers of Commerce and Industry have signed an agreement to expand cooperation between the countries’ private sectors in trade, investment and logistics, as well as support the special economic zones and facilitate tourist arrivals between the countries.
Tak officials have also signed three memorandums of understanding with three states in Myanmar – Myawaddy, Hpa-an and Mon – in a bid to promote trade, investment, logistics and tourism growth between the two sides.
In another move to promote trade growth, the ministry is currently staging the Tak Border Trade Fair 2015 in Mae Sot. The one-week event concludes on Sunday. Chatchai said the ministry would organise many trade fairs and trade-promotion activities at other border-trade provinces.
He said the fair in Tak was a pilot activity, with many trade activities between Thailand, Myanmar, Laos and Cambodia to be organised in the following months.
Tak was a gateway for Thai traders and investors to penetrate Myanmar under the East Economic Corridor, he said. The ministry has projected the Mae Sot fair will generate about Bt30 million in immediate sales. More than 300 Thai and Myanmar exhibitors have joined the event.
