Thailand and Myanmar Usher in New Era of Economic Cooperation with Business Forum

Thai Prime Minister Srettha Thavisin, alongside Myanmar's President Min Aung Hlaing, attended the "Thailand-Myanmar Business Forum 2026" in Bangkok, declaring a transition to a new phase of economic cooperation between the two nations. The forum, organized by the Thai-Myanmar Friendship Association and the Federation of Myanmar Chambers of Commerce and Industry, saw participation from over 700 individuals, including government representatives, private sector delegates, and entrepreneurs from both countries. Prime Minister Srettha emphasized that Thailand and Myanmar are ready to embark on a new chapter of economic cooperation based on mutual trust and shared benefits. He stated that regardless of internal or external political situations, the government's duty is to ensure a better quality of life, employment, income, and hope for the future for its people, ensuring economic progress. Over the decades, the private sectors of Thailand and Myanmar have been crucial in linking their economies through investment, employment, and opportunity creation. Currently, Myanmar is a significant economic partner for Thailand, with bilateral trade valued at approximately USD 7.4 billion, and considerable potential for further growth. Thai investments in Myanmar span various sectors, including energy, manufacturing, transportation, logistics, communications, real estate, and tourism. During their discussions, both leaders agreed to concretely advance economic cooperation in several areas. In trade, both sides welcomed the reopening of the 2nd Thai-Myanmar Friendship Bridge connecting Mae Sot and Myawaddy and are committed to jointly resolving regulatory obstacles to ensure trade through this route can resume at its full potential as soon as possible. They will also consider opening additional border crossings in areas with suitable conditions to facilitate border trade and promote local economies. Prime Minister Srettha further announced that Thailand will host a Joint Trade Committee meeting between the commerce ministers of both countries to drive bilateral trade towards the target of USD 12 billion and revitalize the Thai-Myanmar border trade atmosphere within the current year. Regarding investment, the Prime Minister affirmed that Thai private enterprises remain confident in Myanmar's long-term potential and are ready to expand investments in areas where both countries have synergistic capabilities, such as energy, agriculture and agro-industry, infrastructure, tourism, and future industries. The Thai government is fully prepared to support the business sector by reducing obstacles, streamlining procedures, and improving unnecessary regulations to enable entrepreneurs to operate and expand their investments effectively. In the energy sector, both sides will continue existing cooperative projects and expedite necessary processes to enhance joint energy security. Additionally, there are plans to establish a joint working group on connectivity promotion to drive the development of transportation and logistics infrastructure and align related regulations. Prime Minister Srettha concluded by stating that in a world undergoing structural supply chain changes, countries that can efficiently connect people, trade, and investment will gain an advantage. By collaborating, both nations can fully leverage their respective potentials. The private sector will be the driving force for this growth, while the governments of both countries are ready to support businesses, chambers of commerce, and entrepreneurs in working closely together to transform opportunities into tangible results. He added that the "Thailand-Myanmar Business Forum 2026" is not just a platform for exchanging ideas but also the beginning of cooperation and change that both governments and private sectors will jointly create for a stable and sustainable economic future. Information Source: INN News