Home / Knowledge / News / Textiles / Govt focuses on enhancing cross-border trade

Govt focuses on enhancing cross-border trade

25
Mar '08
For the ongoing year, the Commerce Ministry of Thailand wishes to increase border trade between the country and its neighbors by 12-15 percent from the earlier 356 billion baht.

However, it is quite evident that achieving this goal would require opening up of more distribution outlets in the border provinces of Thailand.

Statistics of last year show that Thailand exported goods worth around 193.92 billion baht and expended some 162.08 billion baht on imports. Moreover, bilateral trade with Malaysia, Burma, Laos and Cambodia stood at 197.57, 95.96, 46.80 and 33.66 billion baht respectively.

It was only with Burma that Thailand showed a trade deficit and this was mainly due high imports of natural gas. Besides, in the month of January this year, the total value of cross border trade with these four countries reached 29.96 billion baht marking a surge of 3.51 percent.

Need of the hour is to construct more outlets in provinces such as Sa Kaew and Udon Thani which have road or bridge links to neighboring countries. In fact the Government has promised the development of a deep-sea port at Pak Bara, Satun Province to enhance trade between Thailand, Malaysia and Indonesia.

In addition to this, the Government also has plans to provide financial services to traders along the border as this will promote partnerships with Thai commercial banks. Contract farming in neighboring nations will also be encouraged for crops like cotton.

Experts believe that if Thai investors capitalize on special economic zones in neighboring countries, textile industry in particular can attain tariff benefits under the Generalized System of Preferences (GSP).


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 29th Oct 2020

Bangladesh restored 40% of cancelled RMG orders: minister

Bangladesh foreign minister AK Abdul Momen recently said the...

Pic: Shutterstock

Textiles | On 29th Oct 2020

Uzbek trade body, Indonesian textile firm mull cooperation

Representatives of the Uzbekistan Textile and Garment Industry...

Pic: Shutterstock

Textiles | On 29th Oct 2020

PRC unofficially boycotts Australian cotton, imports halt

All cotton exports by Australia to China have reportedly stopped...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Neeraj Sharma,

Neeraj Sharma

Headquartered in Surat, Gujarat, Orange O supplies digital textile...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search