Thai deputy commerce minister to visit Myanmar

BANGKOK, January 13 (TNA) - Thai Deputy Commerce Minister Apiradi Tantraporn is scheduled to visit Myanmar from January 14-15 to meet her Myanmar counterpart and to discuss active economic cooperation, especially a project on the development of a special economic zone in Thailand's Mae Sot District of northwestern Tak Province, bordering the neighboring country, and adjacent Myawaddy Town in Myanmar. Apiradi told journalists on Tuesday that the planned special economic zone in Mae Sot and Myawaddy could be conveniently connected to the port of Mawlamyine and Rangoon. Apiradi pointed out that Mae Sot has high potential, as it has already become an investment location with sufficient transport facilities and labor for labor-intensive firms, including those of textile, processed farm products and furniture. According to the Thai deputy commerce minister, her ministry will organize a business matching and trade fair in Mae Sot from January 28-February 1, 2015. The deputy commerce minister noted that the Myanmar government has also introduced incentives to attract foreign investment, including a five-year exemption of the corporate income tax and a reduction of personal income tax from 15 per cent to 10 per cent for workers of companies receiving investment promotional privileges from the Myanmar government. The deputy commerce minister suggested that Thai businesses with a bright prospect in Myanmar include supplies of consumer products, farm machines, automobile parts, construction materials and lifestyle products, as well as tour services and restaurants. During her stay in Myanmar, belived to help boost two-way trade and investment between Thailand and Myanmar this year due to closer cooperation and partnership, the Thai deputy commerce minister and her Myanmar counterpart will also open the Thailand Week 2015 Fair in Rangoon, in which 177 Thai companies and 35 Myanmar importing firms participate. There will also be business matching discussions and an exhibition of Thai products at the fair, which is expected to attract up to 30,000 visitors.(TNA)