In an effort to accelerate the achievement of the $30 billion trade target by 2027, Thailand and Malaysia are actively pursuing the best strategies with a focus on opening up the full potential of their respective borders.
Thai Prime Minister Paetongtarn Shinawatra, in a statement, stated that the key to success between the two countries lies in stronger ties, improved infrastructure, and a simplified regulatory landscape.
Currently, border trade accounts for more than 30% of their total trade, and both countries are working to accelerate the pace with special border economic zones (SBEZs) and smoother cross-border transportation.
With trade already on track to reach $20.75 billion this year, the focus is on sectors such as halal and rubber, creating jobs and stimulating investment.
Currently, Paetongtarn, together with Malaysian Prime Minister Datuk Seri Anwar Ibrahim, is reportedly working to strengthen integration with the implementation of projects such as the Sadao-Bukit Kayu Hitam road and the much-anticipated high-speed rail.
