11 Nov
WITH the Thailand-Myanmar friendship bridge-2 officially opening on 30 October, bilateral border trade between Myanmar and Thailand is expected to rise, according to sources from the Ministry of Commerce.
“A boost in bilateral trade is very important. The trade flow and logistics services are being increased through Mae Sot,” said Mr. Niyom Wairatpanich, vice-chairman of the Thailand Chamber of Commerce.
In the previous fiscal year, bilateral trade between Myanmar and Thailand reach US$4.99 billion. The top five export products through the Mae Sot checkpoint were energy drinks, motorcycles, diesel oil, mobile phones with components, and dried betel nuts, while the top five import products were corn, live cows and buffaloes, old slabs, and transformers.
Border trade via the new friendship bridge and Mae Sot is expected to top 100 billion baht in 2020.
With the opening of the new bridge, exports from Thailand are likely to increase by more than 30 per cent. Mae Sot handles a major share – up to 60 per cent — of the total border trade between Thailand and Myanmar, followed by Mae Sai and Ranong-Kaw Thaung checkpoints, said Mr. Kich Aungvitulsalit, chairman of the Thailand-Myanmar Business Council.
In a related development, Thailand Commerce Minister Mr. Jurin Laksanawisit held a meeting with the joint public and private sector consultative committee on Thailand-Myanmar border trade promotion at Mae Sot to boost border trade between the two countries.—GNLM (Translated by Hay Mar)
