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Thailand aims to boost cross-border trade

The Thai government has set a goal of reviving cross-border trade including transit trade this year after the value contracted by 2.6% in 2023 from the previous year to 1.74 trillion THB (47.6 billion USD).
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Thailand aims to boost cross-border trade ảnh 1A bird's eye view of the Koh Kong bridge in Cambodia that crosses the Kaoh Pao River. Koh Kong is a Cambodian border province which Thais can access via the Ban Hat Lek checkpoint in Khlong Yai district of Thailand's province (Photo:bangkokpost.com)

Bangkok (VNA) – The Thai government has set a goal of revivingcross-border trade including transit trade this year after the value contractedby 2.6% in 2023 from the previous year to 1.74 trillion THB (47.6 billion USD).

RonnarongPhoolpipat, director general of the Foreign Trade Department, said toachieve the target, the Commerce Ministry is committed to expeditingcross-border and transit trade under the government's investment promotion strategyfor 2024-27.

This involves collaboration with relevant stateagencies to facilitate and stimulate cross-border and transit trade, such asestablishing one-stop service (OSS) centres and linking export-import documentsthrough the National Single Window system to streamline trade processes.

According to the ministry's data, of the total cross-border and transit tradein 2023, exportsaccounted for 981 billion THB (down 4.6%) and imports 762 billion (up 0.2%).Thailand maintained a trade surplus for the year of 219 billion THB

Cross-border trade with four neighbouring countries tallied930 billion THB  in 2023, with exportscomprising 580 billion and imports 350 billion. Thailand had a trade surplus of230 billion THB.

Regarding transit trade to third countries, the totalvalue was 813 billion THB last year, up 11.2% from the previous year. Of thetotal, exports represented 401 billion THB (up 5.3%) and imports were worth412 billion THB (up 17.7%).

China was the top transit trade partner with a value of 423billion THB, followed by Singapore at 107 billion THB and Vietnam 70.1 billion THB./.

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