ID :
132199
Fri, 07/09/2010 - 18:33
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http://m.oananews.org//node/132199
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US$1.5 million expected to circulate at Thai-Malay border trade fair
SONGKHLA, July 9 - The first Thailand-Malaysian border trade event is in full swing in this southern Thailand province, after opening earlier today.
Set to run from Friday through Tuesday, it is expected to generate a money circulation of at least Bt50 million (US$1.5 million) and foster close ties and boost trade between the two neighbouring countries, said Thai Permanent Secretary for Commerce.
The fair, starting at10am and open until 10pm daily, is organised by both public and private sectors from both countries. Its venue is at a local market near the Thailand-Malay border customhouse in Sadao district.
After presiding over the event, Thai permanent secretary for commerce Yanyong Puangrat said consumer goods, local products, including exported merchandise of both countries are being provided here for all consumers.
Although the trade value of this fair is not considered especially substantial, he said, it is a good start for a close cooperation on the matter of both nations.
According to Mr Yanyong, the value of Thai-Malaysian trade previously stood at Bt400-500 billion. The number is expected to increase to Bt600 billion this year.
Thailand's border trade value with its neighbours generally accounts for some Bt700-800 billion annually. The Commerce Ministry aims to increase the amount to Bt1 trillion by 2012. With this goal in mind, building business relations with the other nations like this event is important to Thailand, Mr Yanyong said.
The Ministry also plans to boost border trade between Thailand, Cambodia, and Laos to strengthen their bilateral relations. (MCOT online news)
Set to run from Friday through Tuesday, it is expected to generate a money circulation of at least Bt50 million (US$1.5 million) and foster close ties and boost trade between the two neighbouring countries, said Thai Permanent Secretary for Commerce.
The fair, starting at10am and open until 10pm daily, is organised by both public and private sectors from both countries. Its venue is at a local market near the Thailand-Malay border customhouse in Sadao district.
After presiding over the event, Thai permanent secretary for commerce Yanyong Puangrat said consumer goods, local products, including exported merchandise of both countries are being provided here for all consumers.
Although the trade value of this fair is not considered especially substantial, he said, it is a good start for a close cooperation on the matter of both nations.
According to Mr Yanyong, the value of Thai-Malaysian trade previously stood at Bt400-500 billion. The number is expected to increase to Bt600 billion this year.
Thailand's border trade value with its neighbours generally accounts for some Bt700-800 billion annually. The Commerce Ministry aims to increase the amount to Bt1 trillion by 2012. With this goal in mind, building business relations with the other nations like this event is important to Thailand, Mr Yanyong said.
The Ministry also plans to boost border trade between Thailand, Cambodia, and Laos to strengthen their bilateral relations. (MCOT online news)
