On 31 July 2017, Ambassador Jukr Boon-Long participated in the MoU signing ceremony between the Export-Import Bank of Thailand, or EXIM Bank, and Myanmar’s KBZ Bank, at the KBZ Strand Office Complex. The purpose of the MoU is to promote trade and investment between the two countries. It was signed by Mr. Pisit Seriwiwattana, President of EXIM Bank, and Mr. Win Lwin, Managing Director and Head of International Banking Division at KBZ. Executives from EXIM Bank and KBZ also attended the signing ceremony.

Mr. Win Lwin spoke of developing long-term cooperation between KBZ and EXIM Bank to promote trade and investment, as well as Thai-Myanmar economic relations. In addition, he noted that Thailand and Myanmar have many areas of cooperation, and are connected through culture and religion. KBZ gives importance to the promotion of border trade, which is more than 7 billion USD. Both the public and private sector have strived to formalize border trade, and to ensure that it proceeds according to regulations. Moreover, KBZ has also developed a system whereby Myanmar migrant workers abroad can send remittances back home through legal channels. It has worked with public and private banks in Myanmar, private banks in Thailand, and signed MoU with financial institutions in Thailand and Myanmar to support this endeavour. KBZ views the MoU with EXIM Bank as confirmation of reciprocal financial support for each other’s clients, and supports closer relations between KBZ and EXIM Bank. This is in line with KBZ’s policy to explore economic opportunities in the Mekong sub-region and Asia.

Mr. Pisit Seriwiwattana explained the role of EXIM Bank, which is under the Ministry of Finance, and has a mandate to promote international trade and investment. Thus far, EXIM Bank has supported many investment projects in Myanmar, such as the development of Mandalay Airport. EXIM Bank has a policy to support development, so that Thailand and neighbouring countries can move forward together. It has signed a MoU with KBZ, since it views KBZ as an important strategic partner in Myanmar. EXIM Bank stands ready to cooperate with KBZ to promote Thai-Myanmar trade and to reduce the cost of doing business. It is also willing to share experiences with KBZ and is confident in Myanmar’s bright future, Myanmar’s potential to achieve global competitiveness and world class standards.

The Royal Thai Embassy in Yangon has consistently promoted cooperation between the Thai private sector, including Thai banks, and Myanmar, as a means to enhance existing close economic relations and mutual benefits between the two countries. The Embassy sees EXIM Bank and Thai commercial banks in Myanmar as important “helping hands” to facilitate the whole process of business operations in Thai-Myanmar trade and investment.

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