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สาส์นจากนายกสมาคม TRA PRESIDENT VIEW
 
   PRESIDENT VIEW
   Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Cooperation
The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) sub-regional economic cooperation was initiative formed in 1993 by the governments of Indonesia, Malaysia, and Thailand. The goal of IMT-GT is to push the private sector of the member states to be leaders of trading and investment leading to economic growth and to support regional economic development by exploiting their economic advantages due to the similarity in geography, environment, religion, culture, tradition, and language. The member states’ governments agreed to promote the private sector role to build economic growth. The governments will provide the environment, infrastructure that facilitates economic development and drive IMT-GT to be a part of the economic development plan. The member states have scoped the cooperation in 6 aspects including (1) Infrastructure Development or Land bridge, (2) Trade and In-situ Development, (3) Open Market Operations, (4) Sectoral Development as in Tourism Development, (5) Cross-Sectoral such as Human Resource Development, and (6) Development of the Hinterlands and Intra-Trade (Source: IMT-GT Studies Center Indonesia-Malaysia-Thailand, Prince of Songkla University).

In terms of economy and trade, Indonesia and Malaysia are Thailand's important trading partners in ASEAN. In 2019, Malaysia, Vietnam, and Indonesia are the top 3 of Thailand’s important trading partners in ASEAN, respectively. The total trade value between Thailand and Malaysia was 23,126.31 million USD. Thailand’s trade deficit with Malaysia was 2,407.17 million USD. Meanwhile, the total trade value between Thailand and Indonesia was 16,325.99 million USD. Thailand’s trade surplus with Indonesia was 1,884.37 million USD (Source: The Information and Communication Technology Center, Permanent Secretary of Ministry of Commerce and Thai Customs)

IMT-GT continuously conducts its meeting activities. The last meeting was the 6th IMT-GT VDO Conference titled ‘Managing the impact of Covid-19 on IMT-GT Agriculture and Agro-based Industry’ on July 29, 2020, with 55 participants from Indonesia, Malaysia, and Thailand. In this regard, Mr. Supadetch Ongsakul, the Deputy Secretary-General of the Thai Rubber Association was honored to be a speaker in the discussion about the lessen measures for Covid-19 impacts in Indonesia, Malaysia, and Thailand. Moreover, it included finding useful solutions and improving the IMT-GT cooperation after the Covid-19 pandemic. According to the last IMT-GT meeting, it can be inferred in the important issues as follow; 1) Indonesia, Malaysia, and Thailand have financial measures, which cut or reduce the tariff to help people who suffer from Covid-19 impacts; 2) Nowadays, the global economy is in the recession because the world's debt is at the highest level in history. Furthermore, the lockdown measure together with the prolonged U.S-China trade war makes the economy of the EU, China, and the U.S. shrink. Moreover, China's economic contraction will lead to more investment moves to AEC countries, and more investment within countries in IMT-GT by reducing dependence on foreign investment (China, Japan, America, and Europe); 3) The agricultural business such as oil palm and rubber are the important base of the economy in IMT-GT countries. Oil palm and rubber face low price problems, especially rubber. However, the agriculture sector still holistically helps Thailand’s economy, compared with the tourism industry and SME, which causes unemployment problems; 4) IMT-GT has a new Rising Star in the industry, which is medical latex gloves. Thailand and Malaysia are the world's important producers of medical latex gloves to reach the increasing of the world’s demand because of the Covid-19 pandemic and other pandemics, which might be occurred in the future; 5) Logistics management is very important. The lockdown condition cause product shortages. Therefore, the government should develop the Standard Operation Procedures (SOPs) to build confidence in shipping for the buyers.

In conclusion, The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) sub-regional economic cooperation has great importance, especially during the Covid-19 pandemic. IMT-GT should have the appropriate and clear proceeding plans to protect the benefits of rubber farmers and entrepreneurs. The Thai Rubber Association hopes that strong cooperation under the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) will provide holistic strategic benefits to Thailand.




Mr.Chaiyos Sincharoenkul
President
The Thai Rubber Association

Monthly of   August  2020     
     
  history  
 
[   November  2013 ]
icon Thai natural rubber in AEC

Natural rubber is a plant of economic importance of Thailand and South East Asian region.  The region is the largest producer and exporter of natural rubber in Asia and the world with the market share of 80%. Among the region, Thailand is the top of global market share (33.1%), followed by Indonesia, Malaysia and Vietnam. Thailand is the world’s lar...

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[   October  2013 ]
icon A study trip and meeting in the Northeast

Natural rubber is a plant of economic importance of Thailand, involving over 6 million people from various sectors: farmers, entrepreneurs, labourers and government agencies. In 2012, Thailand produced 3.78 million tonnes of natural rubber. The value of the overall export of rubber and rubberwood is 647,906 million baht, of which 327,275 million baht is from 3.12 million tonnes of primary processed rubber and compound rubber, 259,832 million baht from ru...

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[   September  2013 ]
icon Driving rubber industry with intellectual property

As everyone may have known, Thailand has been the world’s largest producer and exporter of natural rubber since 1991. In contrast, domestic consumption in the country is low, compared to production quantity as Thai rubber industry is agricultural-based, concentrating on exporting primary processing products to other countries for industrial purpose.  Consequently, Thailand encounters a problem of price volatility and instability, affecting the livelihood...

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[   August  2013 ]
icon Rubber Products Expo 3

Thailand is one the world’s most important rubber production bases. Currently, Thailand covers the natural rubber plantation area of 18.7 million rai (2.992 million hectares), of which mature area is 13.81 million rai (2.2096 million hectares). In 2013, the annual rubber output is expected to reach 3.86 million tonnes, of which 13% is domestically consumed, 83% is exported in the form of primary processing products, generating income of over 600 ...

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[   July  2013 ]
icon Rubber trade contract sanctity

Global rubber trade lies in two categories i.e. futures markets, Tokyo Commodity Exchange, Singapore Commodity Exchange, Agricultural Futures Exchange of Thailand for example and direct trade in physical markets.

In futures market, both actual physical delivery and cash settlement are practiced. But mostly, cash settlement is preferred as to speculate for difference of prices at different time.

Direct trad...

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