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Thailand’s cross-border trade sees positive growth in ten months

Thailand's cross-border trade jumped 6.18% to 1.514 trillion THB (about 43.86 billion USD) in the first ten months of 2024.

Illustrative photo (Photo: nationthailand.com)
Illustrative photo (Photo: nationthailand.com)

Bangkok (VNA) – Thailand's cross-border trade jumped 6.18% to 1.514 trillion THB (about 43.86 billion USD) in the first ten months of 2024.

Of the figure, the export value was at 872 billion THB, up 5.64% year-on-year and imports at nearly 643 billion THB, up 6.92%, resulting in a trade surplus of over 229 billion THB.

Commerce Minister Pichai Naripthaphan said that the country has set a target of 2 trillion THB in cross-border trade by 2027.

Pichai said the ministry was working with various agencies and businesses to boost trade gateways to neighbouring countries, including Chiang Rai’s Chiang Saen Port on the Mekong River – a major hub for fruit exports to China.

The Port Authority and private sector are assessing the feasibility of investing to expand the port, with the Department of Foreign Trade following up on progress.

From January to October this year, Chiang Saen Port, a trade hub with Laos, Myanmar, and China, saw a year-on-year trade rise of 21.53% to 5.96 billion THB. Exports through the port were worth 5.65 billion THB and imports at 312 million THB, a huge trade surplus built on fruit shipments to China. In July, China opened its Guanlei checkpoint in Yunnan to expedite Thai fruit imports on the Mekong River.

According to Pichai, the ministry will continue to promote and create favourable conditions for trade activities between Thailand and neighbouring countries. In 2025, the ministry plans to organise six trade fairs in special economic zones and border provinces in four regions.

In addition, the ministry wants to discuss with relevant agencies and neighbouring countries the possibility of opening new checkpoints located directly opposite Thailand's current checkpoints.

Currently, 86 of Thailand’s 94 border checkpoints are open, while neighbouring countries have opened 73 checkpoints./.

VNA
#Thailand #cross-border trade #checkpoints #Chiang Saen Port #Mekong River Thailand
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