Myanmar remains lucrative markets for Thai goods, service

BANGKOK, Sept 22 (TNA) – Myanmar remains lucrative markets for Thai goods and service as Thailand’s trade with the so-called CLMV countries – Cambodia, Lao PDR, Myanmar and Vietnam grew around 12 per cent annually in the past five years, said Commerce Minister Apiradi Tantraporn. The minister said at a seminar, organized by Bangkok Bank to provide in-depth information for Small and Medium Enterprises Enterprises (SMEs) on expanding their businesses to Myanmar. Thai exports to CLMV countries were about 10 per cent of all Thai exports and major exported goods are autos, chemical products, machinery and construction materials. Thailand’s export value to Myanmar is about US$4.1 billion annually and it grew 2.2 per cent in the past seven months of this year. The Thai-Myanmar Joint Trade Commission agreed to increase the bilateral trade value to US$10 -12 billion next year, she said. Myanmar still depends on imports as it lacks of effective manufacturing sector. Thai goods are known for good quality among Myanmar consumers, so Myanmar remains lucrative markets for Thai commodities. Moreover, under the strategic partnership, Myanmar can also be the gate for Thai entrepreneurs to explore new channels of trade and service businesses. to India and South Asia. (TNA)