BANGKOK, 12 December 2014 – The Ministry of Commerce is inviting the private sector to be its partnership in three projects to move Thailand forward after ASEAN Economic Community is formed next year.
Deputy Commerce Minister Apiradi Tantraporn said that the private sector’s partnership is encouraged in three aspects, namely development of special economic zones and border trade, improving the competitiveness of Thai entrepreneurs and pushing Thailand’s trade towards in the global stage. The Ministry will, however, use the economic and border trade zones in spearheading other developments. These economic zones will be developed as centers to stimulate economic growth or an economic hub.
The government has also invested in the construction of dual track railways to connect land links between Thailand and other nations like China and India. With a budget of three trillion baht, the twin-track railway will reduce logistic cost by about 15% within 7 years.
According to statistics, Thailand’s border trade value with four neighboring countries amounts to 720 billion baht annually. The value has expanded by about 10% annually for five consecutive years. The Ministry of Commerce is planning to increase the border trade value to 1.5 trillion baht next year.
