THE FOREIGN Trade Department of the Commerce Ministry suggests that the Thai private sector expand border trade and increase investment in Myanmar to prepare for Asean Economic Community, which takes effect next year.
Bangjongjit Angsusingh, deputy director-general of the department, said its officials visited Tak province to provide information on trade and investment opportunities in neighbouring countries to local business operators given Thailand’s geographical advantages. Tak and surrounding areas are located in the East-West Economic Corridor under the Greater Mekong Subregion Economic Cooperation programme.
The lifting of trade sanctions by Western nations on Myanmar has attracted investors wanting to cash in on that country’s abundant natural resources and the lowest labour costs in Asean. Hence Myanmar would be a good target for labour-intensive industries. Thailand should boost trade with Myanmar along the 2,400-kilometre shared border, Bangjongjit suggested.