Thailand targets to achieve US$30 bln trade with Malaysia by 2025

KUALA LUMPUR: Thailand targets to achieve US$30 billion (US$1 = RM4.38) in trade value with Malaysia by 2025, says its ambassador today.

Chainarong Keratiyutwong said Malaysia had been Thailand's largest partner among Asean countries with a total trade value of US$24.08 billion achieved last year, which is larger compared to pre-pandemic numbers.

He said Malaysia is one the main contributors to its tourism industry with 4 million Malaysian arrivals being the second largest tourist group by arrival in 2019 and among the top 10 arrivals since it reopened its borders and restarted its tourism activities.

"Despite the challenges posed by the COVID-19 pandemic for the past two years, bilateral diplomatic, economic, social and people-to-people ties remain very cordial, strong and vivid,

"This proves that Thailand and Malaysia as well as other ASEAN countries moved forward together to weather the current economic problems and inflation," he said in his opening remarks of the grand opening ceremony of "Think Thailand" festival at Tropicana Gardens Mall here today.

On the festival, Chainarong said it features more than 30 booths by Thai businesses as an initiative to support traders from both countries and propagate quality Thai products to Malaysia.

"I am confident that our effort today to further strengthen economic ties between our two countries will contribute and enable us to achieve the bilateral trade target of US$30 billion by 2025 and bring our people closer once again," he said.

Meanwhile, Minister Council and Director of the Thailand Department of International Trade Promotion Worawan Wanwil said the event will also feature more than 30 Thai exporters showcasing new and existing Thai products which range from food and beverages to services such as the well-known Thai massage.

Moreover, he said that several in-store promotions by outlets such as Aeon, Segi Fresh and NSK in Kuala Lumpur and Selangor will also be run throughout the 12-day festival

Besides that, business-to-business matches are arranged with more than 50 qualified Thai exporters which managed to secure 63 matches with an expected trade value of RM30 million so far this year.

"What I can say is Think Thailand is more than just a fair. It's an all-out operational and cooperative effort to showcase our new and existing Thai products, foods and services.

"I know most Malaysians know about the Thai people and their culture very well. I am also sure that Malaysians miss Thailand, so we bring Thailand to you," he said.

-- BERNAMA