Exim opens Yangon office for Thai ventures
The state-owned Export-Import Bank of Thailand (Exim Thailand) will open its first overseas representative office in Yangon, Myanmar, next month to help Thai investors who are expanding into the neighbouring market.
“Exim Thailand is ready to support Thai entrepreneurs who wish to expand their export markets or relocate their factories to Myanmar with a view to lowering their production and transport costs and serving their consumers better,” president Pisit Serewiwattana said.
“This is also a move in response to Myanmar’s burgeoning urbanisation, infrastructure and manufacturing developments, while nurturing social and economic development of Asean as a whole,” he added.
Thailand is one of Myanmar’s main trade partners and top foreign investors.
Major export goods from Thailand include beverages, sugar, finished oil products, machinery and equipment, and chemicals, while the main import goods from Myanmar are petroleum products, meat, live animals, metal ore, vegetables and fruits.
Thai direct investments in Myanmar go to industries such as natural gas exploration and production, power plants, and cement and construction material manufacturing.
Exim Thailand also plans to open representative offices in Laos, Cambodia and Vietnam next year.