EXIM Thailand to open representative office in Yangon by April
Pisit Serewiwattana, president of the Export-Import Bank of Thailand (EXIM Thailand), called on U Kyaw Kyaw Maung, governor of the Central Bank of Myanmar, in Nay Pyi Taw City on March 6 for the presentation of a licence for EXIM Thailand’s establishment of a representative office in Yangon.
Pisit said the bank would proceed with the application for a permit to trade and the registration of the representative office with Myanmar’s Ministry of National Planning and Economic Development. EXIM Thailand’s representative office in Yangon, is scheduled to open by April to work in collaboration with Thailand’s relevant government agencies as part of the “Thailand Team” in promoting and supporting Thai trade and investment in Myanmar by facilitating both start-up and expansion endeavours of Thai entrepreneurs.
Today, Thailand is one of major Myanmar’s trade partners and top foreign investors. Major export goods from Thailand include beverages, sugar, finished oil products, machinery and equipment, and chemicals, while main import goods from Myanmar are petroleum products, meat, live animals, metal ore, vegetables and fruits. Thai direct investments in Myanmar go to such industries as natural gas exploration and production, power plants, and cement and construction material manufacturing.
“EXIM Thailand is ready to support Thai entrepreneurs wishing to expand their export markets or relocating their factories to Myanmar with a view to lowering their production and transportation costs and better serving their consumers, both the Myanmar and foreign investors whose business operations in Myanmar have been on the rise. This is also a move in response to Myanmar’s burgeoning urbanization, infrastructure and manufacturing development, while nurturing social and economic development of Asean as a whole,” Pisit said.