Cabinet to consider five-pronged trade, investment strategy
The Commerce Ministry will propose for the Cabinet's consideration on Tuesday five strategies to promote trade and investment in neighbouring countries.The first strategy focuses on the development of logistics and industrial zones in neighbouring countries. This includes the joint development of the Thai-Myanmar border economic zone of Mae Sot-Myawaddy.
The second is the promotion of investment in neighbouring countries' labour-intensive sectors, which will pilot the relocation of Thailand's textile and garment production bases to Cambodia.
The third is the production of food in one country and having them processed in another, which will see cooperation on food safety and security.
The fourth focuses on encouraging Thai businesses to invest in hotels and hospitals in neighbouring countries. The pilot project would be the promotion of regional tourism on three routes - Sukhothai-Luang Prabang-Bagan-Siem Reap; Chiang Tung-Chiang Rung-Chiang Mai-Chiang Rai-Chiang Kong; and the Thailand-Cambodia-Laos Emerald Triangle.
The fifth one is the creation of the so-called Tetro body - similar to Japan's External Trade Organisation (Jetro) - to guide Thais on investing in neighbouring countries. The pilot project will study Jetro's structure before creating the Tetro.
The five strategies were submitted to the Commerce Ministry by the committee promoting Thai investments in neighbouring countries and border trade.