KUALA LUMPUR: Malaysia aims to further strengthen business relations and economic cooperation with Thailand, following its recent three-day business mission to Bangkok.
Second Finance Minister Datuk Seri Johari Abdul Ghani led a delegation comprising 29 high-profile government officials, industry captains and members of the Kuala Lumpur Business Club (KLBC).
Johari also paid a courtesy call on Thailand’s Prime Minister Prayuth Chan-ocha, Deputy Prime Minister Somkid Jatusripitak, Finance Minister Apisak Tantivorawong; and other high-level Thai government officials and regulators.
Johari said Malaysia and Thailand are important trade partners, with a combined total trade of more than US$20 billion in 2016, which is testament to the strong economic cooperation between the two countries.
“Through this mission, we look forward to further trade and investment cooperation, to strengthen the already strong bilateral ties between Malaysia and Thailand. We had a fruitful discussion with the Thai Prime Minister and his officials, who were informed that Malaysia will always welcome more Thai investments in Malaysia.
“The strengthening of the bilateral ties also bodes well with the overall spirit of Asean’s integration. Through the establishment of Asean Economic Community (AEC) for example, we strive to open up the market further, creating more opportunities, removing trade barriers and increasing the meaningful participation of local players at the global and regional levels,” Johari said.
KLBC president Tengku Datuk Seri Zafrul Aziz said as the global market begins to recognise Asean’s economic importance, both Malaysia and Thailand – being not just more advanced economies in this region but also immediate neighbours with 60 years of diplomatic relations – are well-poised to thrive as Asean begins to realise its full economic potential.
“KLBC is pleased to facilitate this opportunity for top corporate leaders from both countries to share, explore and discuss more business prospects between both countries.” said Zafrul who is also CIMB Group chief executive.
The forum was attended by prominent corporate leaders from both countries, who shared their insights on expanding Malaysia-Thailand trade ties, the challenges and opportunities afforded by Asean’s growing economic clout, and how China’s ambitious Belt and Road initiative would shape the new global economy, and set Asean countries on a more dynamic growth trajectory.
The business mission also included private meetings with Thai corporate leaders as well as visits to the Stock Exchange of Thailand and the Investory, which is the first Investment Discovery Museum in Thailand.