FTI establishes an agency to handle border trade

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BANGKOK, 10 April 2014,  – The Federation of Thai Industries (FTI) has established an agency to handle border trade, with the aim of expanding operations, and encouraging investment in neighboring countries. 

Vice President of the FTI, Twatchai Hengchareon, told the media that the establishment comes at the right time as the current value of trade with neighboring nations has increased significantly. He explained that the agency’s main functions are conducting business and investment matchmaking through cooperation between business councils under the FTI and the Joint Standing Committee on Commerce, Industry and Banking. The agency has also set a goal of 10% growth in cross border trade annually.

Mr. Twatchai said that the FTI would join hands with the government in building infrastructure, linking the kingdom to neighboring nations, stating that such projects would facilitate the opportunities for trade in the major cities of both Thailand and its trading partners, beyond the border provinces.

He gave as an example, transportation to Yangon in Myanmar, saying that the city has only small and challenging roads connecting it to border provinces. Deliveries to Yangon therefore take a couple of days, Mr. Twatchai said.

The FTI Vice President would also propose that the administration create a plan to offer scholarships to Thai universities to benefit academics from Myanmar, Lao PRD, and Cambodia, in addition to student exchange programs.