Thailand looks to further boost border trade

Thai Prime Minister Srettha Thavisin has asked relevant agencies to pursue friendly international trade and investment policies in a bid to boost border and cross-border trade between Thailand and neighbouring countries.

Government spokesperson Chai Wacharonke said on Sunday that this move will generate positive sentiment in the Thai economy, noting that the Commerce Ministry of Thailand has appointed the Department of Foreign Trade to monitor border trade closely.

According to Wacharonke, Thai border and cross-border trade moved in a positive trajectory with a total of THB 912.28 billion (over $25.8 billion) in the first six months this year – including THB 534.31 billion in exports and THB 377.96 billion in imports.

The border trade in the first half of this year totalled THB 493.47 billion. The important border export items include diesel valued at THB 23.10 billion, refined oil worth THB 10.43 billion, and latex THB 8.22 billion, he said.

Meanwhile, cross-border trade totalled THB 418.81 billion, including China (THB 244.17 billion), Singapore (THB 53.13 billion), and Vietnam (THB 36.26 billion). Important cross-border export items include fresh durians valued at THB 67.60 billion, hard disk drives worth THB 40.95 billion, and rubber rods THB 19.50 billion.

An increase in border and cross-border trade was proof that the government’s policies were effective, Wacharonke stressed, adding that relevant agencies will hold activities to promote border and cross-border trade in Songkhla province from August 15-18, including exhibition of products, online business matching and seminars to create awareness among entrepreneurs.