Thai commerce official visits Myanmar to boost economic cooperation

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BANGKOK, Jan 13 — Thailand’s Deputy Commerce Minister Apiradi Tantraporn will visit Myanmar to boost economic cooperation.

Ms Apiradi said she will visit Myanmar tomorrow and Thursday January 14-15 to meet her Myanmar counterpart and discuss active economic cooperation, especially a project to develop a special economic zone in Thailand’s Mae Sot district and the adjacent town of Myawaddy town in Myanmar.

She and her Myanmar counterpart will open the Thailand Week 2015 fair in Rangoon.

Present at the fair will be 177 Thai companies and 35 Myanmar operators importing Thai products. There will be business matching discussions and an exhibition of Thai products.

The fair is expected to attract 30,000 visitors.

Ms Apiradi said that the planned special economic zone in Mae Sot and Myawaddy could be conveniently connected to the port of Mawlamyine and Yangon (Rangoon) and the Myanmar government has introduced incentives to attract foreign investment.

She referred to five-year exemption of the corporate income tax and personal income tax reduction from 15 per cent to 10 per cent for workers of companies receiving investment promotional privileges.

Ms Apiradi commented that Mae Sot district in Tak has high potential as it was already an investment location and had sufficient transport facilities and labour for labour intensive industries such as textiles, processed farm products and furniture.

The Ministry of Commerce will hold a business matching and trade fair in Mae Sot beginning January 28 through February 1.

She pointed out that Thai businesses with bright prospects in Myanmar were suppliers of consumer products, farm machines, auto parts, construction materials and lifestyle products as well as tour services and restaurants.