Myanmar, Thailand sign two MoUs, one Agreement on Bilateral Cooperation

February 2, 2017

Following talks between State Counsellor Daw Aung San Suu Kyi and Deputy Prime Minister of Thailand Dr Somkid Jatusripitak in Nay Pyi Taw yesterday, two Memorandums of Understanding (MoU) and one agreement were signed by high-ranking officials of the two countries.

An MoU on Development of an Emergency Department at Dawei General Hospital and another MoU on Fisheries Cooperation and Money Transfer Services Agreement for Myanmar migrant workers between the Central Bank of Myanmar and Thailand’s Krung Thai Bank were signed by high ranking officials of the ministries concerned in the presence of State Counsellor Daw Aung San Suu Kyi and Deputy Prime Minister Dr Somkid Jatusripitak.

During the talks, the State Counsellor and the Deputy Prime Minister of Thailand discussed issues on promoting bilateral cooperation in the tourism sector, border trade and rural area development between the two countries.

Thai Commerce Minister Apiradi Tantraporn, who is part of a trade mission to Myanmar, said that under their close strategic partnership, Thailand and Myan mar would double bilateral trade to US$13 billion (457 billion Thai baht) by the end of 2021, according to the Bangkok Post.

“Thailand and Myanmar will forge closer ties in many areas to strengthen trade and investment growth, while they will also help increase competitiveness for the private sector, especially SMEs [small and medium-sized enterprises], and help Myanmar people to trade online,” she said.

The 22 companies on the mission are from a wide range of sectors, such as construction, property development, agro-industry, telecommunications and innovation, infrastructure development, energy, retail, consumer products, finance, services and education.

During the mission, participating companies will sign at least 15 MoUs concerning cooperation between the two sides, covering such fields as energy, medical, media, banking, and the plastics and sugar industries.

Moreover, the Commerce Ministry will join with the Board of Investment of Thailand to set up a Thailand-Myanmar Business Cooperation Council in Yangon, which more than 300 businesspeople from both nations involved, Apiradi said.

Ref; The Global New Light of Myanmar