BANGKOK: The Export-Import Bank of Thailand will open a representative office in Yangon, Myanmar, in April to assist the start-up or expansion of Thai companies there.
Bank president Pisit Serewiwattana said the Exim Bank has been given a licence to open an office in the former capital city by the Central Bank of Myanmar.
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The next step is to seek a permit to trade and register its representative office with Myanmar’s Ministry of National Planning and Economic Development. It is expected the new office will be opened in April, he said.
“Exim Thailand is ready to support Thai entrepreneurs wishing to expand their export market or relocate their factories to Myanmar with a view to lowering their production and transport costs and better serve their customers,” said Pisit.
Thailand is one of Myanmar’s major trading partners and foreign investors. Major Thai exports to Myanmar are beverages, sugar, finished oil products, machinery and equipment, and chemicals.
Main imports from Myanmar are petroleum products, meat, live animals, metal ores, vegetables and fruit.
Thai direct investment in Myanmar focuses on industries such as natural gas exploration and production, power plants, and cement and construction material manufacturing.
