Home Insider Insider News Thailand EXIM Bank Opens its First Overseas Office in Yangon

Thailand EXIM Bank Opens its First Overseas Office in Yangon

Apisak Tantivorawong, Thailand’s Minister for Finance attended the opening ceremony of Export-Import Bank of Thailand’s representative office in Yangon on June 9 along with EXIM Thailand’s directors and executives. The representatives from both Thai and Myanmar public and private entities are also present in this event.

The reason EXIM chose its first overseas office to open in Yangon was the interest among Thai companies to invest in Myanmar. Pisit Serewiwattana , EXIM Thailand President stated that Myanmar topped the list of destinations with most business prospects as regards demand for Thai goods and services.

Thailand exports to Myanmar include beverages, sugar, refine fuels, machinery and equipment, and chemicals, while main import goods form Myanmar are natural gas, meat, live animal, metal ore, vegetables and fruits. As of April 2017, Thailand’s investment into Myanmar amounted to $10.92 billion. According to the government figures this year, Thailand was the third largest foreign investor in Myanmar.

EXIM Thailand was awarded a license to open its first Yangon representative office by the Central Bank of Myanmar on March 6, 2017. Woramin Thavarabha is the chief representative in EXIM Thailand Yangon office.