Myanmar-Thai bilateral trade doubled in five years

Bilateral trade between Myanmar and Thailand amounted to 3.577 billion U.S. dollars in the fiscal year 2009-10, which was doubled in five years, said the local weekly Yangon Times Tuesday.

In 2005-06, the bilateral trade was 1.593 billion dollars ,the Union of Myanmar Federation of Chambers of Commerce and Industry ( UMFCCI) was quoted as saying.

Myanmar and Thai entrepreneurs had met for promoting bilateral trade cooperation this month.

Besides the normal trade, border trade has also been improving comparing the two fiscal years' Myanmar-Thai bilateral trade, according to vice chairman of UMFCCI U Tun Aung who added that the border trade at Tachilek, Myawady, Kawthaung and Myeik hit 199 million dollars in 2005-06 and rose to 295 million dollars in 2009- 10.

Thailand stood first in Myanmar's normal foreign trade partner line-up, followed by Singapore, China, India, China's Hong Kong region, Malaysia, Japan, South Korea and Indonesia.

But it stood the second in border trade with neighboring countries.

Thailand exports to Myanmar textile, shoes, marine products, rice, rubber, jewelry, motor cars, computer and electronic accessories and vice versa, while importing from Myanmar forestry products, marine products, agricultural produces and natural gas.

Meanwhile, Thailand is leading in the Myanmar's foreign investment which is followed by the United Kingdom and Singapore.

Thailand injected 7.41 billion dollars into Myanmar during the 21 years' period from 1988 to 2009, of which 81.7 percent went to electric power, while 8.33 percent and 3.1 percent in manufacturing and hotel and tourism sectors respectively.

Source:Xinhua