Thailand and Malaysia are strengthening economic ties with a focus on achieving a US$30 billion bilateral trade target by 2027. Both nations are prioritizing cross-border trade promotion and facilitation, particularly in the halal and rubber industries.
Thailand and Malaysia are strengthening bilateral relations with an aspiring plan to achieve US$30 billion bilateral trade target by 2027, while prioritising greater cross-border trade promotion and facilitation in key sectors. The recent visit by Thai Prime Minister Paetongtarn Shinawatra to Malaysia from Dec 15 to 16 at the invitation of Malaysia's Prime Minister Datuk Seri Anwar Ibrahim has catalysed renewed efforts to foster economic collaboration and deepen ties between the two nations.
Thailand’s ambassador to Malaysia, Lada Phumas, said both nations are prioritising greater cross-border trade promotion and facilitation, particularly in the halal and rubber industries. 'To achieve this target, both sides agreed to promote cross-border trade, including joint export activities in halal goods and services, R&D (research and development) of halal products and collaborative efforts to develop a sustainable rubber trade and supply chain, considering the growing demands and trends of the two sectors,' she said. Lada, in a written statement to Bernama following Paetongtarn’s inaugural visit to Malaysia, said a joint taskforce on agriculture and food security, including halal cooperation, is being expedited to boost economic opportunities. She said cross-border connectivity remains a cornerstone of the bilateral relations with infrastructure projects playing a critical role. Lada highlighted the progress of two major infrastructure projects, namely the Second Bridge linking Rantau Panjang, Kelantan and Su-Ngai Kolok, Narathiwat, and the road alignment linking ICQS Bukit Kayu Hitam and the new CIQ Sadao. 'These projects will ease the cross-border flow of goods and passengers, elevating trade, investment and tourism activities. 'The checkpoints are vital to local economies, with ICQS Bukit Kayu Hitam - CIQ Sadao accounting for approximately 33 per cent of Thailand’s border trade volume,” she sai
TRADE ECONOMY HALAL RAYSIA THAILAND
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