Thailand Is Aware of the Important Role of the Private Sector in ACMECS

  • Thai Trade Center Los Angeles
  • The Government Public Relations Department, Office of the Prime Minister
  • March 14, 2013

Thailand has emphasized the importance of joint operations between the public and private sectors at all levels in pushing for economic development in ACMECS countries.

Prime Minister Yingluck Shinawatra joined discussions with ACMECS leaders and members of the business community at the 5th Ayeyewady – Chao Phraya – Mekong Economic Cooperation Strategy (ACMECS) Summit in Vientiane, the Lao PDR capital, on 13 March 2013.

The Prime Minister said that she was pleased to witness the signing of the memorandum of understanding (MOU) on the Establishment of the Thailand-Cambodia and the Cambodia-Thailand Business Council at the 5th ACMECS Summit. The business council would serve as a consultation forum between the private sectors of the two countries. She reiterated that the public sector was ready to facilitate trade and investment by the private sector, as seen from the ACMECS Plan of Action 2013-2015.

The Prime Minister explained that the Plan of Action was also in response to the private sector’s wishes to see production links and the supply chain in ACMECS members, comprising Cambodia, Lao PDR, Myanmar, Thailand, and Vietnam. She urged ACMECS members to allow banks from ACMECS countries to open their branches there in order to facilitate trade and investment in the Greater Mekong Subregion. She also called on them to support the conclusion of related agreements, such as those concerning investment promotion and protection and the avoidance of double taxation.

Prime Minister Yingluck stressed the need for the public and private sectors to work closely together in partnership, which would help narrow the development gap among member countries, promote balanced development, and improve living conditions in the subregion.

In this regard, Thailand reaffirmed its commitment to develop infrastructure in neighboring countries, such as the construction of the missing link from Kawkareik to Mawlamyine and the 5th Thai-Lao Friendship Bridge from Bueng Kan province in northeastern Thailand to Bolikhamxai province of Laos and the upgrading of various checkpoints along the Thai border.

It urged Myanmar, Lao PDR, and Viet Nam to join the ACMECS Single Visa Initiative, which has already been implemented by Thailand and Cambodia. Thailand also encouraged ACMECS members to consider a proposal by the private sector for the establishment of sister cities along their border areas to help develop ACMECS as a single production base, in addition to promoting economic, social, and cultural relations.

Through contract farming cooperation with ACMECS countries, Thailand would like to promote investment on economic crops, especially soybean and maize, which are in great domestic demand. It also invited ACMECS member countries to cooperate on innovation research and development in various areas, including research on alternative energy and bio-energy.

(Source : Foreign Office, The Government Public Relations Department, Office of the Prime Minister / Thailand Is Aware of the Important Role of the Private Sector in ACMECS)

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