Myanmar merchants from Karen and Mon states met with their Thai counterparts in the Thai border town Mae Sot met last Wednesday. The meeting was held to facilitate increases in transnational business exchanges between merchants. Currently Myanmar is Thailand’s sixth largest trading partner.
Nay Zaw Aung, event organiser and executive director of Myanmar-based Thiri Hantar Co., said meetings of this kind are a chance for merchants to “incorporate one another’s skills”.
“We want to encourage more investment from both sides,” Nay Zaw Aung said.
In attendance were 20 Myanmar merchants, all handpicked by Nay Zaw Aung; 15 from Mon state and 5 from Karen state. The Thai traders, including one business chairmen, were from northern Thailand's Tak Province where Mae Sot is located.
The Mai Sot meeting is a follow up to one held last August in Mon state capital Mawlamyine. After the August meeting there were substantial increases in trade. Wednesday’s discussions also paved the way for trade increases.
These meetings draw on pre-existing strong business relationships between the two countries that have been developed over years of trading agricultural products, packaged food, sea and land-sourced minerals, construction materials, leather products and more, according to Sakao Sueb Sic Chuea, secretary for Tak Border Trade.
More needs to be done to continue improving business relationships between the two economic regions, Tak Governor Nai Suyeeya Payasanphanthi noted. Thai investors are particularly interested in developing Myanmar’s healthcare, construction, and tourism and mining industries as they all hold strong potential for economic growth, he said.
In November 2012, the two countries established a trading goal of US $6.1 billion by 2015. In July, import and export amounts totaled US $215 million.
