Thailand, Laos to boost cross-border trade

MUKDAHAN, THAILAND, March 7 (TNA) - Thailand and Laos have agreed to increase cross-border trade by about 20 per cent over the next three years, from 151 billion baht now. The agreement was reached in Mukdahan Province in the Thai Northeast on Friday (Mar 6), following talks between Thai Commerce Minister General Chatchai Sarikulya and Laos's concerned authority. Both sides also agreed to set up a joint official committee, aimed at boosting bilateral cooperation at every level. Besides, the Thai and Lao sides signed four memoranda of understanding (MOUs) on trade, investment and tourism expansion, as well as on the construction of a Thai hospital in the special economic zone in Laos' Savannakhet Province. The two neighbouring countries have agree to boost trade in the special economic zone by approximately 20 per cent within three years, starting 2015, from 151 billion baht now. In another related development, the Thai Commerce Ministry has organised a five-day ‘Border Trade Fair’, started from March 5, within the compound of Mukdahan Provincial Hall, in which traders from Laos, Vietnam and Thailand participate. It is estimated that about 100 million baht should be changed hands during the ongoing five-day business event. (TNA)