Border trade between Thailand and Myanmar is set to increase this year thanks to the second Thai-Myanmar Friendship Bridge and the implementation of Cross Border Transport Facilitation Agreement (CBTA).
The second Thai- Myanmar Friendship bridge connecting Myawady in Myanmar and Mae Sot in Thailand opened in October of 2019.
Trade volume between Myanmar and Thailand in fiscal year2018-19 hit a total of US$5.4 billion (K7.7 trillion) in total, Ministry of Commerce statistics show. According to the ministry, Myanmar’s exports to Thailand reached US$3.2 billion while imports hit US$2.1 billion.
Among three trade points along the border between Myanmar and Thailand, Myawady-Mae Sot route is the most important, carrying around 70 percent of trade between the countries.
“With the new bridge and that transportation agreement, the trade outlook is good for both countries. In Myanmar, most of goods mainly imported from Thailand are raw materials for manufacturing, and construction material. So, the transportation route is important for two countries’ economies and businesses,” Myanmar International Freight Forwarders Association chair U Aung Khin Myint, told The Myanmar Times.