Thai Deputy Prime Minister Somkid Jatusripitak (Source: AFP/​VNA)

Bangkok (VNA)
– Thailand is building a master plan to enhance trade and investment ties with Cambodia, Laos, Myanmar and Vietnam (CLMV) in order to ensure all five countries continue to prosper amid strong global competition, said a local official.

Thai Deputy Prime Minister Somkid Jatusripitak told reporters on June 19 that the Thai Government started to develop a master plan to boost trade and investment relations with Laos after his visit to the country early this month.

This is a pilot project to negotiate with Myanmar, Cambodia and Vietnam later this year, he said.

The plan is expected to help Thailand intensify pragmatic relations with CLMV and double their two-way trade  while opening up opportunities for Thai businesses to expand their investments in CLMV and vice versa.

Last year, the total trade value between Thailand with CLMV reached 30.94 billion USD. Vietnam led the way with bilateral trade worth 13.85 billion USD, followed by Myanmar, Cambodia and Laos.

Deputy PM Somkid said that in a period of global economic uncertainty, collaboration between Thailand and CLMV will be a way to boost trade value and drive the regional economy.-VNA