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NEWS UPDATES 17 July 2010

Thailand and Myanmar draw closer

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The federation of Thai Industries (FTI) and leading Thai businessmen on Saturday met with the Union of Myanmar Federation Chambers of Commerce and Industry (UMFCCI) at a hotel in Mae Sod to strengthen trade and investment ties between the two countries, according to the Bangkok Post.

Industry Minister Chaiwut Bannawat, who chaired the meeting, said Thailand and Myanmar have enjoyed good relations for many years and a large number of Burmese now have worked in industrial plants in Thailand, especially in Mae Sod.

The value of border trade between Thailand and Myanmar totaled 148.63 billion baht in 2009. This has encouraged Thai businessmen to look for ways to invest more in the neighbouring country”, Mr. Chaiwut said.

He stated that the Thai government supports Thai investors to invest more in Myanmar, particularly in the establishment of industrial estates and the construction of deep sea port there.

FTI chairman Payungsak Chartsutthipol said this meeting will pave ways for the expansion of cooperation on trade and investment between the two countries.

According to the chairman, FTI and UMFCCI agreed to join forces in strengthen ties on trade, agriculture, industrial and energy investment, transport network linking, tourism, human resources development, public health and environment.

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