Thursday, August 17, 2017 - 8:57:22

Thailand intensifies trade connectivity with CLMV

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Thai Permanent Secretary for Commerce Chutima Bunyapraphasara (Photo: National News Bureau of Thailand)
 
 
Bangkok (VNA) - Thailand’s Commerce Permanent Secretary Chutima Bunyapraphasara said the Ministry of Commerce (MoC) is intensifying connectivity between Thai investors and groups and leading trade and investment businesses from Cambodia, Laos, Myanmar and Vietnam (CLMV). 

Chutima Bunyapraphasara was cited by local media on June 26 as saying that the ministry will accelerate the establishment of business networks between Thai investors and enterprises as well as the private sector of CLMV in order to exchange experience and expand business opportunities in these countries. 

Besides, the MoC established the New Economy Academy which operates under the supervision of the International Trade Promotion Department to support Thai small-and medium-sized enterprises at different levels and sectors, while increasing the use of technologies to expand trade channels and improve competitiveness. 

Chutima Bunyapraphasara said the Thai Government will offer incentives in various fields at the Eastern Economic Corridor in a bid to raise Thailand’s trade and investment values with its neighbouring countries. 

On June 19, Thai Deputy Prime Minister Somkid Jatusripitak said Thailand is building a master plan to enhance trade and investment ties with CLMV in order to ensure all five countries continue to prosper amid strong global competition.

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.-VNA

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