The Customs Office in Tak province has reported that border trade between Thailand and Myanmar via the Mae Sot-Myawaddy border crossing was worth a total of 44 billion baht in the 2013 fiscal year.

The office said the value of Thai-Myanmar border trade between October 2012 and September 2013 soared to 44 billion baht, up 25 percent year-on-year from 35 billion baht. It is forecasted to jump to 50 billion baht in the 2014 fiscal year.

Factors contributing to the rise in trade figures include Myanmar’s opening to the world, improved transport links and relaxation of trade regulations.

The office noted that both parties have expressed support for increased border trade ahead of the formation of the ASEAN Economic Community.

The Thai government is planning to establish special economic zones in Mae Sot district of Tak and Mae Sai district of Chiang Rai in a bid to further accelerate trade with Myanmar.

News from NNT