Myanmar prefers Thai products

BANGKOK, August 13 (TNA) - Myanmar consumers are interested in Thai products, thanks to their high quality. Duangporn Rodphaya, Director-General of the Department of Foreign Trade, under the Thai Ministry of Commerce, told journalists of the information on Wednesday, as she recently led government and private authorities to visit Rangoon, Myanmar's old capital. During the recent trip, Duangporn said, there was a business matching session and seven of 11 companies participating in the trip successfully had their business deals with their Myanmar counterparts. Duangporn noted that Myanmar is welcoming international trade and investment and has comparative advantages for its areas, resources, labor which forms 60 per cent of its total population, location adjacent to India, China and Thailand, economic reform and economic development cooperation with other countries. According to the senior official, the value of Thai-Myanmar trade last year amounted to 230 billion baht, consisting of 110-billion baht-Thai exports and 120-billion baht-Thai imports, resulting in Thailand's trade deficit with Myanmar mainly from natural gas imports. Thailand is the second largest investing country in Myanmar, after China, with even further growing investment in the neighboring country, focused on energy, production, hotel and tourism, fishery and mining projects. The senior Thai official acknowledged, however, that unclear investment laws and regulations, as well as developing infrastructure and public utilities remain obstacles to investment in Myanmar. (TNA)