On 9 February 2015, the Royal Thai Embassy arranged a meeting between Rakhine delegation led by U Tin Aung Oo, President of the Rakhine State Chamber of Commerce and Industry, and Thai businessmen in Yangon from various sectors. The meeting was chaired by Ambassador Pisanu Suvanajata and is part of the Embassy’s continuing effort to increase business opportunities for Thai businessmen in Myanmar

The meeting took place as a consequence of Ambassador’s recent visit to Rakhine in January 2015 where Ambassador met with state’s leading government officials including the Chief Minister and Rakine’s private sector. It was discussed then that there was a vast opportunity for several Thai businesses to make an inroad into Rakhine. This would not only benefit Thailand but it would also lead to futher development in Rakhine.

Rakhine, though situated in the westernmost part of Myanmar and is far from Thailand, has enormous economic potentials, for it has abundant natural resources, low-cost but high-quality labour, GSP privileges that the EU has granted to Myanmar, and geographical advantage connecting Myanmar and Thailand to India. In this context, the delegation emphasized that there are numerous business opportunities for Thailand in Rakhine. For instance, this includes :

1) Agriculutral sector where there is a need of modern technology and machinery to increase production and add more value to the produce. Investments in black tiger prawn farms and imports of good quality fertilizers and seeds were among other things that the delegation identified as business opportunities for Thai entrepreneurs; 2) Tourism sector where Thai investors could use their expertise to tap into Rakine’s beautiful landscapes and nature. In addition, Rakhine has a friendly and accomodating business environment for foreign investors including newly set up Ponakyon industrial zone and Kyauk Phyu Special Economic Zone.
The information provided by the Rakhine delegation sparked interests among Thai business persons who attended the meeting, several of whom are now looking into the possibility of extending their businesses into Rakhine.