Thailand and Malaysia plan to work together under the "Lima Dasar Strategy" or "5-5-5 project" to boost trade, investment, tourism, logistics and halal products in neighbouring provinces.
"The Lima Dasar initiative is designed to increase not only cooperation between the two nations but to ensure trade growth under the Asean Economic Community," Deputy Commerce Minister Alongkorn Ponlaboot said yesterday.
The project has been designed to connect the five southernmost provinces of Thailand - Yala, Pattani, Narathiwat, Satun and Songkhla - with five northern provinces of Malaysia - Penang, Kadah, Perlis, Perak and Kelantan. Lima Dasar means "Five Policy" in Malay.
Thailand will host the first Lima Dasar Summit in Songkhla from September 22-26 to tighten linkages between Thai and Malaysian private enterprises, he said.
The summit will bring together 500 government officials and private-enterprise representatives from both nations. Business matching will be held for 500 enterprises, while 500 booths will be set up showcasing Thai and Malaysian products.
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The two nations have similar natural resources and cultures, he said. Closer cooperation would help strengthen trade, investment and tourism for both sides.
The summit will also support the establishment of a permanent Lima Dasar Office to serve Thai and Malaysian enterprises in the long run.
Under the Asean Economic Community, the Thai government will enhance cooperation with other neighbouring countries such as Laos, Cambodia and Burma. The Lima Dasar cooperation with Malaysia will be a role model for such relationships.
The project will be promoted under other economic blocs including the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation and the Indonesia-Malaysia-Thailand Growth Triangle.