Thai fruits are immensely popular, particularly in the Chinese market. According to data from the Department of Agricultural Extension, Thailand exported 1.16 million tons of fresh fruits from February 1st to July 21st, 2022. The Lao PDR, which shares a border with Thailand and acts as a gateway for trade and investment into China, is thus of great interest. Therefore, the Thai Ministry of Commerce is accelerating discussions with the Lao Minister of Commerce to alleviate trade obstacles, revitalize border trade, and promote commercial economy to achieve the set goal of $11 billion USD (approximately 360,000 million baht) within 2023. This includes strategic operations such as price management, import-export management, trade facilitation, and export promotion.
Moreover, the Thai side requested the Lao PDR to expedite related agencies to consider opening an additional 12 border checkpoints with Thailand, and assist in facilitating smoother Thai product transportation through Lao territory to China, particularly for fruits which are entering the peak season of high yield.
Currently, Thailand is Laos' top trading partner and ranks eighth among Thai partners in ASEAN. In 2022, the trade value between Thailand and the Lao PDR was $7.879 billion USD, an increase of 8.52%. Thai exports to Laos were worth $4.54 billion USD, an increase of 13.47%, while imports from Laos were worth $3.339 billion USD, an increase of 2.43%.
Border trade accounts for 95% of the total trade between the two countries. Key exports include refined oil, gems and jewelry, cane sugar, chemicals, and automobiles. Important imports consist of fuel, gold, fruits and vegetables, fertilizers, and chemicals.
Source: Department of Trade Negotiations, Ministry of Commerce
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