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Thai Entrepreneurs Seek New Business Opportunities in Myanmar Market through Business Matching

Export-Import Bank of Thailand (EXIM Thailand) together with the Federation of Thai Industries has organized “EXIM – F.T.I. CLMV Business Matching” event on May 9 bringing 30 Thai companies in food and beverage industry to seek for Myanmar counterparts to create more business opportunities. Pisit Serewiwattana, President of Export-Import Bank of Thailand and Supant Mongkolsuthree, Chairman of the Federation of Thai Industries have led a team of 50 Thai entrepreneurs on 3-day-2-night trip, with the second day as the opening and business matching day. 

President of EXIM Thailand aims Export-Import Bank as a key mechanism in driving forward Thailand’s international trade and investment strategies through exploring major and new frontier markets with fresh demand for Thai goods and services. “We hope to establish more trade relationships between businesses of the two countries, as well as to promote Thai products in Myanmar,” Chairman of the Federation of Thai Industries said in his welcome speech. 

The business-matching day begins with business seminars on Myanmar Trademark Registration by Decha and Co law firm and a lecture on Logistics and Distribution Channels in Myanmar for Food and Beverage by Dr. Nay Oo, Executive Committee Member, Myanmar International Freight Forwarder’s Association (MIFFA). The opening ceremony in the afternoon was presided over by Narong Boonsatheanwong, Minister and Deputy Chief of Mission of the Royal Thai Embassy, Pakainay Leng-Ee, Minister Counsellor for Commercial Affairs to Yangon, Krich Aungvitulsatit, Chairman of Thai – Myanmar Business Council, Zaw Min Win, President of The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Sorasak Keeratichokechaikul, President of the Thai Business Association of Myanmar (TBAM). 

According to Deloitte’s Myanmar Consumer Survey, Thai products such as beverages, confectionary, packaged foods are widely popular in Myanmar due to the cheap price, high quality and accessible border trade. The event has also attracted a number of local business people in modern trade, hypermart, department stores, importers, and distributors. Ministry of Commerce earlier announced that Myanmar-Thailand bilateral trade was up by 5.5 percent or around $69.5 million, in the first three months of the 2018-2019 Fiscal Year from the same period last fiscal year. Thailand plans to continue to boost the trade and business relationship with Myanmar.