Malaysia-Thailand BEZ To Boost Access To Indochina Markets : Anwar

KUALA LUMPUR, July 14 (Bernama) -- The development of the Malaysia-Thailand Border Economic Zone (BEZ) will provide Malaysian goods with wider access to the markets of Laos, Cambodia and Vietnam, Prime Minister Datuk Seri Anwar Ibrahim said.

Anwar, who is also finance minister, said Malaysian exports, particularly fisheries and agricultural products, had previously faced Thai customs restrictions when transiting to those markets, but Bangkok has agreed to ease the requirements.

"The relaxation will create greater trading opportunities for Malaysia's fisheries and agricultural sectors by allowing goods to move more smoothly through the usual customs procedures," he told the Dewan Rakyat during the Minister's Question Time today.

He was responding to Datuk Adnan Abu Hassan (BN-Kuala Pilah), who asked about the economic benefits Malaysia is expected to derive from the Malaysia-Thailand BEZ and the mechanisms to ensure small businesses and border communities also benefit.

Anwar said the BEZ aims to unlock broader economic development beyond Sadao and Bukit Kayu Hitam, which were jointly launched with Thailand's Prime Minister Anutin Charnvirakul several days ago.

He said the initiative would also cover Rantau Panjang, with the cooperation of the state government to expedite its implementation.

"We are targeting stronger Malaysia-Thailand trade, which has significant potential but has yet to be fully realised," he said.

Anwar said the border development initiative would prioritise small and medium-sized enterprises, job creation and skills training to ensure local communities benefit from increased economic activity.

He added that the BEZ would be supported by the East Coast Rail Link (ECRL), with the federal government having decided to extend the railway to Rantau Panjang.

"In discussions with Anutin, we proposed that the railway be extended into Thailand along the same route," he said.

-- BERNAMA