The Opening of EXIM Thailand Representative Office in Myanmar

The Opening of EXIM Thailand Representative Office in Myanmar
June 09
17:40 2017

Mr. Apisak Tantivorawong, Thailand’s Minister for Finance, presided over the opening ceremony of Export-Import Bank of Thailand (EXIM Thailand)’s representative office in Yangon, Myanmar. The event was witnessed and attended by EXIM Thailand’s directors and executives, together with representatives from Thai and Myanmar public and private entities, as well as Thai exporters and investors at Sedona Hotel in Yangon City of Myanmar on June 9, 2017.

The Finance Minister indicated that Myanmar has received considerable interest from investors all over the world due to its abundant natural resources, rapid economic growth and increasingly liberal trade and investment policies. The fact that EXIM Thailand has chosen Yangon as its first overseas representative office reflects the importance Thailand places on Myanmar’s future prospects. In addition to providing financial services as its primary function, EXIM Thailand would also like to serve as a goodwill ambassador to foster economic ties between Thailand and Myanmar. More specifically, EXIM Thailand will provide economic information and consultation, business coordination and matching services. The inauguration of the overseas representative office today will mark yet another important milestone in Thai-Myanmar economic partnership, leading to sustainable and mutual prosperity for the peoples and economics of both nations.

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EXIM Thailand President indicated that the opening of a representative office in Myanmar is the Bank’s first step to forge ahead with the expansion of its role in promoting Thai trade and investment in CLMV based on its expertise and experience in supporting business endeavors in the region for over the past two decades. Since its inception in 1994, the Bank has approved credit lines for investment projects in Myanmar worth more than 26,000 million baht in total. Such projects include construction of Mandalay airport, Thai-Myanmar natural gas field and pipeline development, machinery loans and financing for development of Myanmar involving purchase of goods and services from Thailand, construction of thermal power plants, and industrial development relating to the production of main consumer goods such as sugar, motorcycle inner tube tyres, furniture, etc. At present, EXIM Thailand has in its pipeline more than 18 projects of Thai investment in Myanmar with at total project value of approximately 700 billion baht. On the whole, the Bank aims to fulfill its role with a view to fortifying both countries’ collaboration for a strong growth together and linkage with other countries both within and outside the region.

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EXIM Thailand was awarded a license for its Yangon representative office by the Central Bank of Myanmar on March 6, 2017. Today, its representative office is open to service with Mr. Woramin Thavarabha taking charge as head of the representative office. The representative office was tasked with serving the Bank’s customers in Myanmar, stimulating Thai-Myanmar trade and investment, providing consultation and financial services to facilitate business operation and matching, creating new opportunities for Thai entrepreneurs, engaging in research based on information from various sources, preparing reports on trade, investment and industries with strong potential, as well as fostering relationship with Thai and Myanmar public and private entities and working as part of ” Team Thailand “. Contact address of EXIM Thailand’s Yangon representative office is Centre point Towers, 6th Floor, No. 65, Corner of Sule Pagoda Road and Merchant Street, Kyuaktada, Yangon, Myanmar, Tel. +95 (1) 389528-9 ext. 8612.

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On this occasion, Mr. Pisit Serewiwattana, EXIM Thailand President, and U Nyi Phyu Hla, Managing Director of Myanmar Foreign Trade Bank (MFTB) jointly signed on MOU between EXIM Thailand and MFTB in the presence of Mr. Apisak Tantivorawong, Thailand’s Minister for Finance. Under the MOU, both institution will join hands in the provision of financial supports and exchange of information and experience in trade and investment promotion for mutual benefits, support of Thai and Myanmar entrepreneurs’ activities relating to the expansion of international trade and investment, human resource development, and exchange of experiences in trade and investment financing as well as international payment services.

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