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Malaysia, Thailand to Continue Special Economic Zone, Targeting US$30 Billion Trade
🇲🇾 Malaysia /Economy & Trade

Malaysia, Thailand to Continue Special Economic Zone, Targeting US$30 Billion Trade

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • Malaysia and Thailand will continue developing a Special Economic Zone to reach a bilateral trade target of US$30 billion by 2027.
  • Prime Ministers Anwar Ibrahim and Anutin Charnvirakul agreed to ease immigration and customs procedures and discussed new routes and railway projects.
  • The leaders emphasized strengthening economic and trade ties as the foundation for robust cooperation in tourism and other sectors.

Malaysia and Thailand are pushing forward with the development of a Special Economic Zone along their shared border, aiming to significantly boost bilateral trade to US$30 billion by 2027. This initiative was a key point of discussion during Thai Prime Minister Anutin Charnvirakul's two-day official visit to Malaysia.

Malaysian Prime Minister Datuk Seri Anwar Ibrahim announced that both nations agreed to streamline immigration and customs processes, addressing outstanding issues. He highlighted the opening of a new route between the Bukit Kayu Hitam ICQS in Kedah and the Sadao CIQ, underscoring a commitment to strengthening cooperation across economic, trade, and investment spheres.

We need to work hard and I think both Foreign Ministers and the Minister of Investment, Trade and Industry need to give focus to this matter because strong friendship and cooperation in all fields, including tourism, must start with a strong economic and trade foundation.

— Datuk Seri Anwar IbrahimPrime Minister of Malaysia, discussing the importance of economic and trade ties for overall bilateral cooperation.

Further plans include accelerating the construction of the Rantau Panjang-Sungai Golok second bridge, seen as vital for the development of southern Thailand and Malaysia's Kelantan state. Discussions also touched upon reviving the Rantau Panjang-Sungai Golok railway project. Anwar stressed that achieving the US$30 billion trade target requires sustained commitment from both sides, with Foreign and Investment, Trade, and Industry ministers needing to focus on this goal.

Anutin added that Thailand prioritizes ending violence and addressing challenges in its southern border provinces. He noted that both countries believe peace and development are intertwined, with peace fostering a conducive environment for development, which in turn builds lasting peace. They agreed to enhance coordination for better connectivity between southern Thailand and northern Malaysia, reinforcing regional integration and long-term economic resilience.

Both countries will continue to strengthen close and continuous cooperation to advance security and development aspects in the border areas.

— Anutin CharnvirakulPrime Minister of Thailand, emphasizing the joint commitment to security and development in border regions.
DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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