Malaysia-Thai Business Council Sees Double-digit Bilateral Trade Growth After AEC 2015

KUALA LUMPUR, July 24 (Bernama) — The Malaysia-Thailand Business Council expects bilateral trade between both countries to grow by double digits once the Asean Economic Community (AEC) is implemented by 2015.

Co-chairman Megat Mizan Nicholas Denney said the implementation of AEC would see freer movement of goods across borders and more economic cooperation between both country’s corporates.

“Trans-border activity between both countries will increase especially in the automobile and agriculture sectors,” he told reporters after the launch of the AEC Business Support Centre here Wednesday by Thailand Ambassador to Malaysia Krit Kraichitti.

Megat Mizan said Malaysian entrepreneurs are encouraged to venture into the Thai market to promote the Halal industry, leveraging on Thailand’s strong food manufacturing industry to provide halal distribution services.

Last year, Malaysia-Thailand bilateral trade stood at US$25 billion while for the first five months of this year, it amounted to US$10.16 billion.

Meanwhile, on the business centre, Kraichitti said it was set up to facilitate Thai entrepreneurs who wish to operate a business in Malaysia.

He added that the business centre will be located in every Thai embassy in the Asean region to help Thai entrepreneurs to seek and exploit trade and investment opportunities in Asean, a region of over 600 million people.