Thailand targets 32 bln USD in border trade

Thailand expects border trade will be worth 1 trillion THB (32 billion USD) this year after reaching 899 billion THB last year and 778 billion THB in 2010.

According to the Office of the National Economic and Social Development Board (NESDB), in 2011, Malaysia accounted for the largest portion of border trade with 70 percent, followed by Myanmar, 17 percent, Laos, 10 percent and Cambodia, 3 percent.

Chanvit Amatamatucharti, NESDB Deputy Secretary General, said Thai border trade is expected to increase by 15 percent a year by 2016 thanks to the full expansion of ASEAN Free Trade Area and the development of infrastructure to create a better network among neighbouring countries.

Most Thai enterprises plan to inject more money into Myanmar , especially in energy, food, agriculture and services.

Petroleum Authority of Thailand and Thai Oil will establish a joint venture to invest in the oil and gas sector in Myanmar.

While Thai President Foods plans to set up one more instant noodle plant apart from the existing one in Yangon, Singha Corporation wants to invest in food and beverage in the country.

Meantime, Thai investors eye rice trading in Cambodia, as the country is likely to export 1 million tonnes of rice a year in future./.

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