BANGKOK, Oct 2 —Bilateral trade between Malaysia and Thailand stood at US$26.19 billion last year, an increase of 14.1 per cent from the US$22.96 billion registered in 2017.
The Malaysia External Trade Development Corporation’s (Matrade) Bangkok Trade Commissioner, Norman Dzulkarnain Nasri said Malaysia exported US$14.14 billion worth of goods to Thailand and imported US$12.05 billion in turn, leaving the balance of trade in favour of Kuala Lumpur.
“The total trade value between Malaysia and Thailand from January to July this year recorded US$14.67 billion,” he said in a statement in conjunction with the market immersion mission to Bangkok, Thailand today.
Norman Dzulkarnain said Malaysia’s top five export products to Thailand were crude oil, chemicals, electronic integrated circuits, electrical machinery and parts, computer part and accessories.
“Potential products that Malaysian companies can explore in Thailand include processed food, ready to eat meals, health food, medical related food, organic food, pharmaceuticals and medical products for the ageing community,” he said.
Thailand is currently Malaysia’s second largest Asean trading partner and its 5th largest trading partner globally.
The Malaysian Embassy in Bangkok is encouraging Thai and Malaysian companies to leverage on the Matrade office here, and companies keen to explore the market can contact Matrade’s Bangkok office by contacting Norman Dzulkarnain at [email protected]. — Bernama