Thailand, Myanmar eye to boost border trade by 150% next year

BANGKOK, December 31 (TNA) - Thai and Myanmar authorities are joining together to promote trade between Thailand’s Mae Sot district of Tak province and Myanmar’s Myawaddy town as the two countries target to increase the overall border trade by 150 percent next year. Duangporn Rodphaya, Director-General of Department of Foreign Trade, said Thai and Myanmar commerce authorities would meet in late January 2015 to promote cooperation between Mae Sot and Myawaddy as sister cities. Leaders of both countries have agreed that the two cities should be a channel to facilitate bilateral trade and investment. Duangporn said Thailand would develop Mae Sot district as well as Phop Phra and Mae Ramat districts also in Tak province into a special economic zone while Myanmar would establish a special economic zone in Myawaddy. She said the Thai government is ready to support Myanmar’s construction of a road between Myawaddy and Kawkareik town, noting that the road is expected to be completed next July. According to Duangporn, the move is expected to boost the value of bilateral trade through Mae Sot district from 60 billion baht yearly to 150 billion baht next year. Meanwhile, the Ministry of Commerce estimates that the value of border trade of Thailand should nearly reach 1 trillion baht this year and rise to 1.1 trillion baht next year. (TNA)