KUALA LUMPUR, Feb 15 — Thailand and Malaysia are intensifying efforts to boost cross-border trade and investment, aiming to create a robust economic corridor along their shared border.
KUALA LUMPUR, Feb 15 — Thailand and Malaysia are intensifying efforts to boost cross-border trade and investment, aiming to create a robust economic corridor along their shared border.
Thai Prime Minister Paetongtarn Shinawatra emphasized the need for stronger bilateral ties, streamlined regulations, and improved infrastructure to reach a US$30 billion trade target by 2027. She highlighted Malaysia as one of Thailand’s top Asean trading partners, with an average annual trade of US$24.73 billion from 2017 to 2023.
“With border trade making up over 30% of total bilateral trade, economic activities along the Thai-Malaysia border are key to our economic growth,” she said in a written interview with Bernama.
In 2023, Thailand ranked as Malaysia’s sixth-largest global trading partner and second-largest in Asean, with trade valued at US$24.83 billion (RM113.16 billion). Between January and October 2024, trade between the two nations reached US$20.75 billion (RM95.50 billion), surpassing the same period in 2023.
Paetongtarn, who took office on August 16, 2024, said both countries are focusing on integrating Special Border Economic Zones (SBEZs) to facilitate trade and investment. She and Prime Minister Datuk Seri Anwar Ibrahim have urged authorities to enhance connectivity projects, including the new CIQ Sadao-ICQS Bukit Kayu Hitam road link, the Rantau Panjang-Sungai Kolok bridge, and the Padang Besar integrated double-track rail link.
Both leaders also prioritized border security, combating illegal migration and smuggling, while supporting seamless transportation and trade. Future projects, such as the Andaman Gateway in Satun and a new bridge linking Tak Bai to Pengkalan Kubor, aim to further improve connectivity.
“These efforts will enhance regional trade and align with Malaysia’s East Coast Rail Link (ECRL) and the Master Plan on Asean Connectivity 2025,” Paetongtarn added. — Bernama
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