Thailand’s cross-border trade recorded a 6.18% increase during the first ten months of 2024, as reported by Commerce Minister Pichai Naripthaphan. The trade, valued at 1.514 trillion baht, reflects a surge in exports (872.043 billion baht, up 5.64%) and imports (642.794 billion baht, up 6.92%), resulting in a trade surplus of 229.248 billion baht. The ministry has set a bold target of achieving 2 trillion baht annually in cross-border trade by 2030.

Fruit exports to China served as a significant driver of growth, particularly through the Chiang Saen Port in Chiang Rai, a crucial trade gateway on the Mekong River. Trade at this port rose by 21.53% year-on-year, amounting to 5.962 billion baht. The majority of this growth stemmed from increased exports of Thai fruits following the reopening of the Guanlei checkpoint in Yunnan province, China, which expedited shipments via the Mekong.

With 86 of Thailand’s 94 border checkpoints operational, collaboration between the government and private businesses has been key to ensuring smooth trade. Efforts include the expansion of trade infrastructure, such as planned upgrades to the Chiang Saen Port, and measures to address logistical challenges.

However, challenges persist. Minister Pichai emphasized the need for stricter import controls to curb the influx of substandard goods, a growing concern for the Thai market. A newly established committee, led by Pichai, aims to tackle legal violations related to trade and ensure consumer protection.

The government’s commitment to fostering robust trade relations with neighboring countries, combined with strategic infrastructure investments and regulatory oversight, positions Thailand for continued economic growth. The vision of transforming cross-border trade into a 2 trillion baht annual enterprise underscores the nation’s ambition to solidify its position as a regional trade hub.