21-12-2023 (BANGKOK) The Commerce Ministry of Thailand is intensifying efforts to implement its cross-border trade strategy, employing the establishment of four task forces to address border trade issues. The ministry’s goal is to increase the value of cross-border and transit trade to 2 trillion baht by 2027.
Following a meeting of the trade, cross-border, and transit trade promotion committee on Wednesday, Commerce Minister Phumtham Wechayachai outlined the committee’s decisions. He revealed that the panel had agreed to set targets to boost the value of cross-border and transit trade to 2 trillion baht by 2027. The focus will be on fostering collaboration among relevant agencies and the private sector, including the Customs Department, the Finance Ministry, the Immigration Bureau, the Interior Ministry, and provincial governors.
Minister Phumtham further stated that the meeting had established four task forces to drive activities aimed at promoting and facilitating border trade, as well as addressing obstacles related to trade and investment. These task forces will focus on enhancing Thailand’s competitiveness to increase trade value, elevating export capabilities, promoting benefits from agreements and partnership frameworks, and encouraging investment in border areas and neighboring countries.
Additionally, the meeting prescribed a strategic plan for promoting trade and investment along the border from 2024 to 2027. The plan includes plans to upgrade existing checkpoints for border trade to permanent border checkpoints at three locations: the Singkhon border pass in Prachuap Khiri Khan, Huay Ton Nun in Mae Hong Son, and Ban Sap Ta Ri in Chanthaburi.
Furthermore, the meeting addressed the issue of delays in importing and exporting goods, particularly at the second Mae Sot border checkpoint in Tak. Currently, this checkpoint is undergoing construction for an external X-ray inspection point to mitigate delays.
According to data from the Commerce Ministry, Thailand’s cross-border trade and transit trade value reached 1.79 trillion baht in 2022, marking a 1.44% increase from the previous year. However, for the first ten months of this year, the trade value amounted to 1.45 billion baht, indicating a 2.62% year-on-year decrease. Within this total, exports were valued at 825 million baht, reflecting a 3.26% year-on-year decline, while imports amounted to 626 million baht, a decrease of 1.75% compared to the previous year.
