Myanmar trade law to boost border trade

BANGKOK, November 4 (TNA) - The new investment law recently enacted in Myanmar is expected to help boost trade across the Thai-Myanmar border. President of Ranong Chamber of Commerce Naruemol Kornpoom revealed that Thai businesses in Ranong province in the east of Thailand were looking for opportunities to expand their investments in south Myanmar, especially in the industry of processed seafood, coastal fisheries breeding, retails, exports and tourism. Myanmar's new investment law was passed by parliament on Thursday and signed by President U Thein Sein for promulgation on Friday, stating that foreigners would now be allowed to make investments in Myanmar, among other details. In related updates, Thai Parliament President Somsak Kiatsuranont told TNA on the progress of establishing Mae Sot district as a special economic zone to support the implementation of the ASEAN Economic Community (AEC) in 2015 that, he agreed with the idea since Tak province was a suitable location, saying the idea had been raised since 1998 and that he intended to follow through with the plan. The parliament president added that Prime Minister Yingluck Shinawatra also planned to visit Tak's Mae Sot district in December to follow up on the project. (TNA)