Thailand's Ministry of Commerce in Myanmar to discuss the promotion of trade and investment between the two countries
- The Nation
- August 8, 2017
Economy August 07, 2017 01:00
By The Nation
The Commerce Ministry’s Department of Foreign Trade will today take a delegation of private business and public officials to the Shan State in Myanmar to discuss the promotion of trade and investment between the two countries.
The move is in line with Commerce Minister Apiradi Tantraporn’s policy of further expanding business ties in the CLMV (Cambodia, Laos, Myanmar, and Vietnam).
Among the delegates are representatives of the Bank of Thailand, Kasikornbank, Amata Corp, the Provincial Electricity Authority (PEA) and Chiang Rai Chamber of Commerce.
The department’s director-general, Duangporn Rodphaya, said that Kasikornbank was keen to explore the idea of opening a branch in the Shan state to cater to its expected increase in trade with Thailand.
The PEA is interested in building a power plant in the Shan state, while Amata has already been approached by the Shan state to establish an industrial zone there. In a separate matter, Apiradi has instructed the ministry’s so-called Region 1 Mini MOC (Ministry of Commerce) to go all out to boost economic growth in the Northeastern part of Thailand through six new projects.
The Mini MOC is the ministry’s branch responsible for driving provincial economic growth.
Head of the Mini MOC Region 1, Kulanee Isadisai, said that the first schemes to be launched in 2018 included the promotion of organic Hommali rice, the Geographical Indication (GI) recognition of Hommali rice on the international stage, the expansion of the Esarn-styled woven textile market, the creation of brands for the Esarn textile market and arranging for a business forum to promote investment in the special economic zone (Nong Kahi-Nakorn Panom-Mudaharn).
She said that the ministry was confident that the projects would further drive economic growth in the Esarn region.
Meanwhile, the Department of Trade Promotion has recommended Thailand’s tea producers take advantage of the Chile-Thailand free trade agreement to tap into the fast-growing tea-drinking industry in the South American country. Chile has never imported tea from Thailand but reportedly has the highest number of tea drinkers in Latin America, followed by Argentina, Uruguay, Bolivia and Peru. It currently imports most of its tea from Sri Lanka.
The Department’s director-general, Malee Choklumlerd, said that tea is already included as a product in the Thailand-Chile FTA. According to Euromonitor, retail tea sales in Chile last year was US$192 million (Bt6.38 billion) or 15 million tonnes. It is forecast to surge to US$225 million or 17.8 million tonnes in 2021.
Source : The Nation