Bangkok: The leaders of Thailand and Myanmar have reached an agreement to cooperate across multiple sectors with the primary focus on revitalizing trade relations within the year. This significant development was announced during the "Thailand-Myanmar Business Forum," where Prime Minister Anutin Charnvirakul delivered a keynote address alongside Myanmar's Senior General Min Aung Hlaing, who was on an official visit to Thailand.
According to Thai News Agency, the discussions between the two leaders on August 6th resulted in a consensus to pursue comprehensive cooperation aimed at achieving tangible outcomes. Prime Minister Anutin highlighted the essential role of both governments in ensuring the well-being of their citizens, emphasizing the importance of maintaining a stable economy and business environment despite political challenges. The leaders are committed to enhancing the trade and investment landscape between the two nations within the current year.
The reopening of the Second Thai-Myanmar Friendship Bridge (Mae Sot-Myawaddy) was another point of agreement, as both leaders expressed satisfaction and pledged to address regulatory hurdles to restore full capacity transportation along this critical route. They also considered the possibility of opening additional border crossings to further facilitate trade and improve the lives of people on both sides of the border.
In a bid to boost bilateral trade, both nations aim to increase their trade value to US$12 billion from the current US$7.4 billion. Thailand will host a Joint Trade Commission meeting at the Commerce Ministers level to advance this objective. Additionally, a joint working group will be established to enhance connectivity by developing infrastructure, transportation, and logistics.
The leaders also directed relevant agencies to collaborate in reducing bureaucratic barriers to facilitate Thai investments in Myanmar, particularly in sectors such as energy, agriculture, agro-industry, real estate, and tourism. Prime Minister Anutin concluded by emphasizing the regional potential of both countries in the context of global supply chain restructuring, underscoring the opportunities for economic growth and sustainable development through improved connectivity and cooperation.