KUALA LUMPUR: Malaysia and Thailand have reaffirmed their commitment to enhance investment and bilateral trade, through the Joint Task Force on Trade and Investment, with a target of US$30 billion by 2027.
Prime Minister Datuk Seri Anwar Ibrahim said that while the target may seem ambitious, the significant economic potential in both Thailand and Malaysia makes it an objective that both countries must work towards.
During a joint press conference with Thailand’s Prime Minister Paetongtarn Shinawatra today, Anwar said the northern provinces in Malaysia need additional focus and investment, similar to the needs of the southern provinces in Thailand.
Paetongtarn is on an official visit to Malaysia from Dec 15-16.
During her official visit, Paetongtarn also saw the exchange of a Memorandum of Understanding (MoU) on rubber between Malaysian Rubber Board director-general Datuk Dr Zairossani Mohd Nor and the Rubber Authority of Thailand’s acting governor Sukatus Tarngwiriyakul.
Paetongtarn said that in terms of economic cooperation, both countries will focus on efforts to trade and invest in border connectivity, the digital economy and tourism.
She also highlighted the potential for cooperation in the rubber and halal industries, which could benefit both nations.
“Additionally, we will work towards the trade target of US$30 billion by 2027. For the border areas, we discussed the need to address the flood problems faced by both countries, and we will continue to work closely to improve border road and rail connectivity to facilitate more trade and people-to-people interactions.
“After the meetings, we witnessed the signing of two important MOUs on rubber and cultural cooperation. I am confident this will strengthen our economic and people-to-people relations,” she added.
