Thailand's border trade expected to grow 2.8% in 2016

BANGKOK, December 27 (TNA) - The Thai Ministry of Commerce has projected that the country's overall border trade should expand by 2.8 per cent year-on-year in 2016, considered a satisfactory growth amid a contraction in global trade. Adul Chotenisakorn, Deputy Director-General of the ministry's Department of Foreign Trade, made the projection on Tuesday, based on the fact that Thailand's border trade value during the first 11 months of the year had exceeded 1.33 trillion baht, a 1.27 per cent year-on-year growth amid a 4 per cent-contraction of world trade on average during the first 10 months of the year. Adul predicted that Thailand's total border trade value should reach as high as 1.47 trillion baht at the end of this year, accounting for 86.5 per cent of his ministry's target for 2016 at 1.7 trillion baht, which would remain satisfactory, For 2017, Adul noted, his department has worked out a new strategy, aimed to boost border trade with neighbouring countries, covering a plan on opening more border crossings, including the Baan Laem Border Checkpoint in the eastern Chantaburi Province to connect with Cambodia's Battambang and Pailine Provinces, the Singkhorn Checkpoint in the upper southern Prachuap Khiri Khan Province to link with Myanmar's Myeik City and the Ta Li Border Checkpoint in the northeastern Loei Province to connect with Lao PDR. For existing border checkpoints with neighbouring countries, like the Mae Sot Border Checkpoint in the lower northern Tak Province border Myanmar, the senior official revealed, a network between Thai business operators and their counterparts in neighbouring countries will be created to boost more Thai exports to neighbouring markets and the existing YEN-D Programme, under which a network of Thai and neighbouring countries has been developed, will be further expanded into its Season 3 by the first quarter of 2017 to enhance more connectivity between Thai and entrepreneurs of neighbouring countries, particularly those of younger generations, to pave the way for growing border trade opportunities. Besides, his department plans to implement the so-called "Loei Model", under which inner Thai provinces with no link with neighbouring countries will be supported to have trade opportunities with neighbouring markets, while the Thai private sector will be promoted to open more good distribution centres both in the country and in neighbouring countries as part of official border trade facilitation measures. The senior official also assessed that Thailand's border trade should further expand by 2-3 per cent year-on-year in 2017. (TNA)