BILATERAL trade between Myanmar and Thailand was unlikely to be affected by last month’s military coup as the new rulers signalled last Monday there would be no change in the country’s economic policies, businesspeople in Yangon said last week.

Thai Prime Minister Thaksin Shinawatra was ousted in a bloodless coup September 19 by military forces led by General Sonthi Boonyaratglin.

“There has been no significant change in the two countries’ bilateral trade. Because of their economy’s free-market structure, I expect business will remain stable between Myanmar and Thailand,” said U Aung Than Htay,

managing director of Hense International Ltd, which exports agriculture produce to Thailand and imports electrical goods in return.

Teeraseth Viryasiri, manager of Schenker (Thai) Ltd’s Yangon branch, also downplayed concerns that the Thai shakeup could impact business ties with Myanmar.

“It was only a matter of political reform in Thailand. That wouldn’t affect the two countries’ economic ties,” he said, before adding that there could be a “slight impact”.

“As to what’s going to happen next, we need to wait and see who will be included in the interim government.”

On Friday, Thai media reported that the junta had chosen General Surayud Chulanont, a former head of military, to succeed Thaksin.

On Monday, Thailand’s junta sought to reassure financial markets and trade partners of its commitment to the market economy and the free flow of capital.
The military council announced its policy was “to ensure continuous economic growth, preserve the market economy, promote local and overseas investment and continue the free flow of capital”.

U Aung Than Htay said Myanmar businesses would need to continue monitoring the situation in Thailand.

“We have to look at whether their financial plan will change in the future,” he said.

Dr Maung Maung Lay, joint secretary of the Union of Myanmar Federation of Chambers of Commerce and Industry, also said it was unlikely the coup would affect Myanmar businesses.

“I haven’t seen any significant change in trade with Thailand so far,” he said.
Although border trade was halted immediately following the coup as border checkpoints were closed, both countries reopened border points at Myawaddy-Mae Sot, Tachileik-Mae Sai and Kawthaung-Ranong last Monday.

U Myat Thin Aung, president of the Myanmar Industrial Association, said the coup would not affect plans for the Thai industrial enclave at Myawaddy.

“No matter what recent political changes may occur in Thailand, the implementation of the Myawaddy industrial zone will continue,” he said.