Thailand plans to cooperate with Myanmar and other major global rice
producers to increasing the bargaining power for Asean countries and sell the
crop at a high price in the world market.
Also, Thailand will ask for
Myanmar's cooperation in facilitating Thai investors who are keen to venture
into that country.
Commerce Minister Boonsong
Teriyapirom said that Thailand will urgently strengthen cooperation on rice
trading as well as on investment to ensure closer cooperation between the two
countries.
The proposals will be discussed
during the upcoming Joint Trade Commission (JTC) to be held in Bangkok on
November 2.
Boonsong said that he would
discuss with Myanmar Commerce Minister U Win Myint collaboration on those
issues to ensure sustainability of the rice-farming sector, boost farmers'
incomes, as well as promote economic growth for both countries.
The move came after Thailand had
already successfully persuaded other rice producers in Asean like Vietnam,
Laos, and Cambodia to strengthen cooperation on rice production and trading in
the region.
Myanmar was the world's largest
rice exporter during before 1980s. Its rice exports are projected to grow
gradually since the opening up of the country. Also, there is plenty of land
available to grow rice. According to a projection by the US Department of
Agriculture, Myanmar will be able to export at least 600,000 tonnes of rice
this year and up to 750,000 tonnes of rice next year.
In addition, Boonsong said that
during the JTC, Thailand would ask for Myanmar's support to promote Thai
investments in many key sectors. Sectors with investment potential are
agro-industry, processed foods, fishery, textile and garments, construction
materials and equipment, automobiles and parts, rubber and products. Many
investors are eyeing Myanmar as a production base for exporting to third
countries.
PETCHANET PRATRUANGKRAI
Business & Investment Opportunities
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