Thai-M'sia trade on the rise
Despite a slowdown in the global economy, trade and investment between Malaysia and Thailand is expanding, with two-way trade reaching US$7.2 billion (Bt270 billion) in the first half of the year.
According to Malaysia's official Bernama news agency, quoting Malaysian Ambassador to Thailand Shaarani Ibrahim, Malaysia is Thailand's fourth-largest trading partner. Within Asean, Malaysia ranks as Thailand's largest trading partner - the highest in terms of imports and second in terms of exports. Last year, two-way trade rose 17.2 per cent to $13.83 billion from $11.8 billion in 2004, representing 6.04 per cent of the Kingdom's global trade. Major Malaysian investors in Thailand include Aapico Hitech, Ingress Autoventures, Trans Thai-Malaysia (Thailand), Petronas Marketing (Thailand), Bina Puri and Pastiya. Major exports to Thailand were electrical and electronic products, crude petroleum, chemicals and chemical products, machinery, appliances and parts, and iron and steel products. Thailand offers export opportunities for Malaysian companies in the areas of steel and steel products, machinery, equipment and parts, plastics, chemicals, computers and components and petroleum products. Others include textiles, garments, fertiliser, automotive spare parts, pharmaceutical products, food and foodstuffs, wood, electric and electronic home appliances, building materials, construction, education, healthcare and tourism. Malaysia was the sixth-largest foreign investor in Thailand with investment amounting to $510.15 million last year, almost double 2004's $298.43 million. Investments of Thai businesses in Malaysia increased threefold, with a total of $37.44 million in 2005 as against $9.7 million in 2004. - The Nation
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