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Myanmar-Thai Trade Hampered by Logistics
24/09/2019
Author: Tin Mg Oo : The volume of trade between Myanmar and Thailand can reach up to $10 billion per year if the infrastructure is improved, said Mr. Thanawut Naigowit, Minister Counsellor of Commercial Affairs of the Royal Thai Embassy in Yangon, at the Thai-Myanmar Business Matching Logistic 2019 event held at Pullman Hotel in Yangon on September 11.
Around 80 percent of trade from the two countries is done through border trade posts, and there are cases in which fresh fish, meat, and fruit ended up spoiling as a result of slow transportation through the area.
“We’ve brought in 14 Thai logistics companies to this conference, which is the first time a logistics conference was ever held in Myanmar. This event is aimed at improving logistics in Myanmar,” he said.
At the event, the stakeholders discussed on matters such as inland, water, and air transportation as well as the storage of goods and distribution.
There are already five official border trade posts along the 2,400 km border shared between Myanmar and Thailand, but the two countries are trying to open new border trade posts locations, Mr. Thanawut Naigowit said.
Trade between the neighbors topped $4.5 billion as of July in this fiscal year. Myanmar exported goods worth $2.69 billion to Thailand, and imported $1.83 billion in return. Trade volume was just over $2.95 billion during the six-month 2018 Transitional Fiscal Year.