Thailand Aims to Boost Annual Bilateral Trade with Mongolia to US$100 Million by 2023

[snoop1130]

 

BANGKOK (NNT) - The Thai government vows to boost bilateral trade with Mongolia to reach US$100 million (3.1 billion baht) by 2023.

 

Commerce Minister Jurin Laksanavisit discussed ways to reinvigorate economic relations, and to enhance bilateral trade between the two countries, with Tumar Amarsanaa, the Mongolian ambassador to Thailand on Thursday.

 

He said Thailand and Mongolia are working on a five year cooperation plan (2019-2023) to serve as a mechanism for expanding bilateral trade and investment, as well as strengthening Thai-Mongolian cooperation in a more tangible manner.

 

Mr. Jurin also emphasized increasing exports of rice and rubber to Mongolia and reiterated Thailand’s important role in food security in the region and readiness to serve as a reliable source of food for Mongolia.

 

At the meeting, Mr. Tumar reiterated continued support in establishing a mechanism for both sides to promote bilateral trade and investment, which should drive economic growth and enhance trade value between the two countries.

 

-- © Copyright NNT 2021-05-21

 

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[hotchilli]

13 hours ago, snoop1130 said:

He said Thailand and Mongolia are working on a five year cooperation plan (2019-2023) to serve as a mechanism for expanding bilateral trade and investment, as well as strengthening Thai-Mongolian cooperation in a more tangible manner.

Bi-lateral implies a two-way trade?

 

[Pattaya Spotter]

Looking forward to seeing yak butter ???? in Villa Market soon.

[mfd101]

Mmmm, apart from yak butter, it's not obvious what Thailand might need from Mongolia. Rio Tinto has discovered that digging up gold & copper there isn't as rewarding as it might be.

[Burma Bill]

17 hours ago, snoop1130 said:

emphasized increasing exports of rice and rubber to Mongolia

  What will Thailand import in return - yak butter!!!

 

[CALSinCM]

Welcome to the fruits of the Belt and Road Initiative.  No doubt the exceptional nation in the west will be having a cow and will look for ways to throw a spanner into the works.
BRI.  This is what it will look like for Asia and Euasia. Hence the push for infrastructure like high-speed rail.

[trainman34014]

As usual Thailand is not interested in Importing anything and even if there is anything it will be heavily taxed.       Exports of course have to be free of all Tariff's !

[worldexpress]

I'm always amused how they pull these projection numbers. Do they ever hit any in the time frame they project?

 

And I'm always amazed how they find translators in some of these languages. They'd have to be very very good or some serious international crisis can happen. I don't see any more than a handful of qualified Mongolian translators in Thailand.

Edited May 22, 2021 by worldexpress