15:05 | 17/01/2018 Global Economy
Thailand’s border trade is expected to grow 10 – 14 percent in 2018 from an estimated 16 trillion THB (US$50 billion ) recorded last year, according to the country’s Ministry of Commerce.
The key factor driving the growth is increasing demand for Thai goods as the country’s trade with minor cities in neighboring countries has been improving.
Adul Chotinisakorn, deputy director-general of the Foreign Trade Department, said the Young Entrepreneur Network Development Programme (YEN-D) is instrumental to border trade growth. The YEN-D was launched in 2015 to encourage Thai entrepreneurs to invest abroad and gain an insight into the regional markets and trade-investment regulations of Thailand’s neighbors.
The program provided farmiliarisation trips and special training courses for young business leaders in Cambodia, Laos, Myanmar, Vietnam and Thailand to help them better understanding of the countries’ cultures and regulations.
According to Adul, Thai border trade rose by 12.7 percent from 2016 and it has expanded between 10-14 percent annually over the past five years.