Thailand is seeking to help establish contract farms along its border with Myanmar under a regional economic cooperation scheme, local Myanmar Times quoted Thai official sources as reporting Monday.

Bilateral negotiation of a memorandum of understanding is underway to set up a joint committee between the public sectors of the two countries to operate such farms, the report said.

The move came after the foreign ministers of a five-country economic cooperation strategy program pledged at their meeting, which ended earlier this month in Myanmar's Mandalay, to work for increasing competitiveness, narrowing economic disparity and promoting socio-economic development in the subregion.

The five-country cooperation strategy program, also known as the Ayeyawaddy-Chao Phraya-Mekong Economic Cooperation Strategy ( ACMECS), involves Cambodia, Laos, Myanmar, Thailand and Vietnam.

Their cooperation covers the areas of trade and investment facilitation, agriculture, industry, energy, transport linkages, tourism, public health and human resources development.

ACMECS program was agreed upon at the first ACMECS summit of Cambodia, Laos, Myanmar and Thailand held in Myanmar's ancient city of Bagan in November 2003 with the participation of heads of governments of the four countries, and Vietnam joined the ACMECS in 2004.

As part of the ACMECS, Thailand also proposed three industrial zones to be set up on Myanmar side's Myawaddy and Hpa-an in southeastern Kayin state and Mawlamyine in southern Mon state, and the three industrial zone projects, aimed at creating job opportunities in the region, are expected to start during this year.

The feasibility study by Thailand on the establishment of the three industrial zones has reportedly been finalized and the finding on the feasibility has been presented to the Myanmar side for deliberation.

Under the program, Myanmar is reportedly deliberating to lease land to foreigners for the development of three proposed industrial zones to be jointly implemented by Myanmar and Thailand to mainly attract foreign investment into the projects.

Source: Xinhua