Thailand and Malaysia have announced an agreement to speed up the construction of land transport links in order to boost bilateral trade and relations.
Both countries reached an agreement on Thursday (Aug 11) following the 14th meeting of the Joint Commission for Bilateral Cooperation at the Foreign Ministry. The meeting was the joint commission’s first since 2015.
These agreements include accelerating road alignment between border checkpoints in Songkhla province’s Sadao district and Perlis state’s Bukit KayuHitam, as well as the construction of two new bridges across the Golok River between Narathiwat province and Malaysia’s Kelantan state. Both parties will also explore the possibility of developing other projects, such as a high-speed rail link and a connectivity project between Satun Province and Perlis State.
Thailand and Malaysia also set a goal of increasing bilateral trade to 30 billion dollars by 2025, up from 23 billion dollars in 2021. Both sides agreed to investigate collaboration in the digital economy as a new area of cooperation. They expressed a willingness to encourage capacity building, business matching, and foreign investment in order to boost competitiveness and productivity. (NNT)