KRABI, 11 September 2019(NNT) - The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) meeting, held in Krabi province, has discussed economic cooperation among the three countries. The meeting focused on improving the sub-region’s tourism connectivity and para rubber industry.
At the IMT-GT meeting on Sept 10, representatives of the private organizations discussed ways to rebuild the para rubber industry, boost the tourism industry, the Sixth Economic Corridor and trade along the border.
The IMT-GT Thailand Chairman, Thawatchai Hengprasert, said the three nations have adopted a policy to raise rubber prices, as the IMT-GT’s rubber production capacity is 70% to 80%. Due to an oversupply of rubber in the market, a Malaysian delegate proposed that the state sector should deal with rubber research and innovation as an urgent matter. An Indonesian delegate said there should be more government-to-business (G2B) negotiations to stimulate the demand for para rubber. Meanwhile, Thailand proposed that the authorities should create a rubber stockpile and monitor demand before releasing more rubber onto the market.
The three countries supported the idea of connecting different tourist destinations in the sub-region. Yacht tourism is on the rise, with a growth of 10% or 30 million passengers annually. Each country should improve its piers and promote new businesses and cultural products to create a positive impression on visitors.
To facilitate business and tourism and stimulate the economy, the meeting discussed a single-entry visa for people traveling between the three countries.