PUTRAJAYA: Malaysia and Thailand have set a target of achieving US$30bil (RM133.81bil) in bilateral trade by 2027, says Prime Minister Datuk Seri Anwar Ibrahim.
Anwar said that following his bilateral meeting with his Thailand counterpart Paetongtarn Shinawatra, they agreed to support efforts to bolster intra-Asean trade.
“We have set the target of US$30bil by 2027. It can be seen to be very ambitious, but we are looking at the huge economic potential in Thailand and also in Malaysia.
“That’s something that we need to work with,” said Anwar during a joint press conference after welcoming Paetongtarn to Perdana Putra on Monday (Dec 16).
In a joint press statement, the two prime ministers have tasked the relevant officials to work closer to achieving the 2027 bilateral trade target.
“Thailand will host the 4th Joint Trade Committee (JTC) Meeting on the mutually agreed date,” it said.
The statement also said both leaders acknowledged the crucial role of private sectors and encouraged the relevant authorities of both countries to explore deeper cooperation through the MOU between the Digital Economy Promotion Agency of Thailand and Malaysia Digital Economy Cooperation (MDEC), which was signed last year to create a conducive environment.
It also said both prime ministers welcomed the recent efforts to promote tourism and facilitate the mobility of tourists between Malaysia and Thailand as well as the wider region.
“In this regard, the two Prime Ministers welcomed further discussions by officials from both countries on the ‘six countries, one destination’ scheme, proposed by Thailand.
“On a similar note, both countries agreed to explore potential joint campaigns to co-promote Visit Malaysia 2026 and Amazing Thailand Grand Tourism Year 2025 initiative as well as expressed support for each other’s tourism campaign,” it said.
Taking note that the global halal economy may reach US$5tril by 2030, the leaders also agreed to develop a greater complementarity of the halal industry in both countries.
“This includes the continuation of joint export promotional activities on halal goods and services; the exchanges of best practices and business know-how; research and development of halal products as well as more active collaboration between Malaysian and Thai public and private sectors,” it said.
It also said Malaysia is open to supporting Thai officials in developing a local halal ecosystem by offering courses under the Malaysian Technical Cooperation Programme (MTCP).
“This initiative would provide an opportunity for Thailand to gain insights into halal standards and practices while helping to strengthen its halal sector,” it added.
During the event, both countries also signed the MOU between the Malaysian Rubber Board and the Rubber Authority of Thailand, which would pave the way to a stronger partnership between Malaysia and Thailand in joint efforts to develop the rubber industry.
“In this regard, the leaders agreed for both agencies to collaborate further in sharing knowledge and technology.
“Both sides also welcomed the rubber cooperation under the umbrella of IMT-GT with the signing of the MOU on the IMT-GT Rubber Cities and Rubber Industry Cooperation between the Northern Corridor Implementation Authority of Malaysia, the Rubber Authority of Thailand and the Industry Ministry of Indonesia on Sept 16, 2022,” it added.
