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Thailand-Myanmar Trade Center to be Opened
21/05/2019
AUTHOR: ZIN THU TUN
With the aim of promoting improved trade ties and investment between the two countries, the Thailand-Myanmar Trade Center will be opened in a new three-story building located in Thingangyun Township, Yangon.
The first floor will be for displaying Thai products while the second floor will be used to showcase Myanmar products. A Data Center will be located on the third floor, it will store data for over 30,000 Thailand businessmen, according to Mr. Supant Mongkosuthree, Chairman of the Federation of Thai Industries.
“The center is complete now and business leaders can visit it. But we are waiting for approval from the Thai government to officially open the center,” he added.
The center has the goal to improve information distribution about food, cosmetics, household items, and fishery products. The center should also improve cooperation between businessmen from the two countries making trade easier and more effective.
“EXIM Thailand Bank will provide financial services to businessmen trading through the center,” according to Mr. Pisit Serewiwattana, President of the bank.
“When they need capital for trade between the two countries, we will provide financial services such as loans, we have already signed an MoU with KBZ bank and CB bank to provide such services,” he added.
EXIM Thailand Bank in collaboration with Federation of Thai Industries also held “EXIM – F.T.I CLMV Business Matching” on May 10 at Chatrium Hotel, they brought over 30 food companies from Thailand to meet with local businessmen.
Bilateral trade increased by $69 million in the first three months of fiscal 2019 from the same period last year, according to Myanmar’s Ministry of Commerce. Thai products such as beverages, confectionary and packaged foods are becoming more popular in Myanmar because of their affordable prices, high quality and accessible border trade.
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