Myanmar, Thailand decide to enhance economic cooperation

Myanmar and Thailand discuss bilateral economic cooperation to boost trade and relations.
The Thai-Myanmar bilateral economic cooperation meeting occurred on 17 January, as reported by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
The Thai Ambassador to Myanmar, Mr Mongkol Visitstump, and his delegation met with the President of the UMFCCI, U Aye Win, and officials at the federation’s headquarters.
During the meeting, the discussions focused on promoting friendly relations between Myanmar and Thailand, enhancing economic cooperation, boosting trade, improving border trade measures, expanding businesses and investments, ensuring a smooth flow of export and import processes (including foodstuffs, personal goods, milk and dairy products), fostering the tourism sector, and upgrading infrastructures.
On 7 January, the Trade Department issued a press release allowing businesspersons to change trade camps to avoid delays in the export and import processes of Myawady Trade Zone. Export entrepreneurs were permitted to change the export of approved products destined for foreign markets through any border trade camps along the Myanmar-Thai border. If not, they could opt for the maritime trade route.
Similarly, import entrepreneurs were granted the flexibility to change the import of goods at any border trade camps, despite having received import approvals for these goods via Myawady trade zone before 19 December 2023. For those choosing the maritime trade route, scrutiny would be applied to capital goods, intermediate goods, and industrial raw materials carried by containers.
As of now, Myanmar-Thai trade has surpassed US$3.5 billion within the first nine months of this financial year, according to the Ministry of Commerce. In the corresponding period of the 2022-23 financial year, the trade value reached $3.951 billion. Therefore, the trade value in the current financial year has declined by US$385.353 million compared to the previous year.
Myanmar operates trade camps along the Myanmar-Thai border in Tachilek, Myawady, Kawthoung, Myeik, Htikhee, and Mawtaung. Among them, Htikhee camp leads with a trade value of $2,208.736 million. Additionally, Myawady trade zone recorded $997.411 million, Kawthoung camp $136.23 million, Tachilek $115.935 million, Myeik $93.074 million, and Mawtaung $15.087 million.
Myanmar conducts export and import processes with neighboring countries, including China, Thailand, Bangladesh, and India, through border trade camps. Myanmar exports agricultural produce, animal products, fishery products, minerals, forest products, finished industrial products, and more. The country primarily imports capital goods, intermediate goods, personal goods, and CMP raw materials through border camps. — NN/TTA