Moving forward, Thanawut Naigowit, who was appointed as Thai Economic Counsellor and Director of the Thai Business Centre in Yangon last month, has plans to increase trade between Thailand and Myanmar to US$10billion over the next few years.

This comes at a time when Myanmar is attempting to raise export volumes to Thailand at the Myawady border. “Myanmar businessmen need to find the right business partners from Thailand. Most of Myanmar people know about products made in Thailand but Thai people need to know more about Myanmar products first before exports can improve,” Mr Thanawat told the Myanmar Times in a recent interview.

During the interview, Mr Thanawat also discussed the role of the Thai Business Centre as well as drawing more Thai investments into Myanmar:

What suggestions do you have for Myanmar traders?

The Thai Business Centre is under Thailand’s government and Ministry of Commerce. We are able to check whether companies actually exist or do businesses. So, please come to us to inquire whether these companies are real or not before buying things from them.

So far, only two or three Myanmar businesses have lodged reports at the centre during the term of the previous counsellor and since I took over. The cases involved fraudulent businesses, non-payment for goods delivered, and non-delivery of goods paid for.

This can happen because some businesspeople from Myanmar find contacts via social media when they want to buy or sell something. Come to the centre first before doing anything. If businesspeople come to inquire before they order things, we can check whether the companies they want to do business with actually exist. However, it takes some time.

Can the illegal-trade problem be solved?

Thailand and Myanmar share a 2000 kilometre border. In the past, some trades were not even registered. But now, Thailand is cooperating with Myanmar’s Internal Revenue Department to register cross-border traders. As our shared borders are so long, some areas will still have illegal trade. But overall it is decreasing. Most of the trade now is through proper channels.

What are the main trade goods for both countries? In what sector can the two countries cooperate for further development?

Thailand is exporting food, kitchen utensils and electronic appliances to Myanmar and importing local good and agricultural products from Myanmar. Only a few Myanmar products are known in Thailand, but it is the opposite in Myanmar. Lately, Myanmar’s Feel Restaurant expanded into Thailand is becoming more popular there. Although it wasn’t popular at first, more Thai’s go there to try Myanmar food. Right now, Thai people are becoming more interested in Myanmar cuisine and the  country as well. Opening Myanmar restaurants in Thailand would be a good idea. Although Thai border towns know about Myanmar, the country can explore northern and southern Thailand.

How many Thai companies have a presence in Myanmar?

There are about 200 medium and large companies and around 1000 small and joint venture companies from Thailand operating in Myanmar. Among the largest is Charoen Pokphand Group, better known as CP Group, which is involved in poultry farming, egg production and pig farming in Myanmar. Another one is PTT Exploration and Production Public Co Ltd or PTTEP which is involved in Myanmar’s energy sector. Then there is Siam Cement Group Thailand which is producing cement and construction materials. They are in Myanmar because they see the potential for development in Myanmar. Likewise small companies are now entering the country to do business. Many restaurants, food businesses, spas, and hotels have entered Myanmar.

Which sectors are Thai investors most interested in?

Small companies are interested in the food business. Medium and large companies come to Myanmar to open well-known restaurants. And some come to operate hotel and construction businesses.

What should Myanmar do to draw more Thai investors?

Some Myanmar businesses don’t have much experience with international trade. They shouldn’t make hurried decision when they cooperate with foreign investors. I think it would be better if they entered deals more carefully. The infrastructure for trade between the two countries is good. The road and buildings are improving. The Myawaddy-Mae Sot road, the main trading route between the countries is also improving. The Myawaddy to Yangon section of the route is very good. Trade flows quickly as bridges are built. If Myanmar becomes a major market for products exported from India, China and Thailand, the state’s economy will grow dramatically.

Tourism is important in Thailand. What advice do you have for Myanmar regarding the sector?

Tourism is one of the biggest revenue generators in Thailand. The Department of Tourism and Promotion under the Ministry of Tourism regularly attends tourism fairs in other countries to promote Thailand as a destination, even though many people know about it.

The Ministry of Tourism provides information about famous destinations via online platforms to attract visitors from around the world. There are many attractive natural destinations for visitors in Myanmar, but these destinations haven’t captured much attention, including the people of Thailand. They will surely come if all these places of natural beauty in Myanmar can be publicised more effectively around the world.

How many Thais visit Myanmar every year? 

As far as I know, 1.5 million people visit Myanmar every year and around 20 percent of them are from Thailand. So that means about 350,000 Thai people visit Myanmar every year.

Most of the people of Thailand still don’t have a good idea about the tourist destinations in Myanmar. As there are more direct Bangkok-Yangon/Mandalay flights these days, the number of Thai visitors is expected to rise to about 500,000 in one or two years, and about one million in five years. The improvements in flights as well as the hotels are a contributing factor in attracting more visitors. I’d like the Myanmar Ministry of Tourism to promote their destinations in tourism fairs in Thailand. Only then will they be able to attract more people. My family is planning to visit Shwedagon, Kyaiktiyo and the pagodas in Bago at the end of the month. I don’ want to focus solely on economic development.

I think both countries should cooperate not only in trade but also in tourism as well. – Translated

Source: https://www.mmtimes.com/news/talking-trade-and-investments-thailands-economic-counsellor-myanmar.html