Thailand to expand trade, investment into Philippines

BANGKOK, March 20 (TNA) - Thailand is expediting to expand trade and investment into the Philippines, as considerable business rooms are seen in the neighbouring economy in the Association of Southeast Asian Nations (ASEAN). Nunthawan Sakuntanaga, Director-General of the Thai Ministry of Commerce's Department of International Trade Promotion, told journalists of the development on Thursday, saying that her department has already opened Thailand's new AEC trade and business development centre in the Philippines, in the lead-up to the ASEAN Economic Community (AEC) by 2015, after earlier opening such the centre in eight other ASEAN neighbouring countries, except Brunei. Nunthawan acknowledged that such the centre has served more than 200 Thai and Philippine entrepreneurs so far, mostly through e-service. Meanwhile, Rachakorn Saksri, Director of Thailand's International Trade Promotion in Manila, the Philippines' capital, reported that the import-oriented Philippine economy was Thailand's fifth largest trading partner in the 10-member ASEAN bloc last year, with Thai exports to the Philippines exceeding 5 billion US dollars, a 3.72 per cent year-on-year increase. According to the senior official, Thai products or businesses with sound prospect in the Philippines include consumer products, construction materials, automobile parts and even restaurants.(TNA)