ASEAN aims to boost intra-regional trade through better transport connectivity

TAPPING EACH OTHER’S Capabilities

Thailand has stated that it is enthusiastic about enhancing communication between nations.

For starters, it is expanding to a twin track rail system. &nbsp,

Additionally, it is pushing for the construction of a land bridge that connects the Thai Gulf and the Andaman Sea in southwestern Thailand.

The premier job, scheduled to be prepared by 2028, aims to create a new global trade route and reduce travel occasion for vessels, said Thai Deputy Prime Minister and Transport Minister Suriya Juangroongruangkit. &nbsp,

There is now” a lot of overcrowding” in the Malacca Straits, he noted. &nbsp,” We foresee that in the future, a lot of transport lines will have to rush and lane. But if there is a property bridge, it is ( be used as an alternative )”.

But system alone is not enough, market players noted.

” The key question now is, can they get it ( to be ) seamless, can they get it ( to be ) affordable”? said Westports ‘ executive president Ruben Emir Gnanalingam, &nbsp, who runs the largest mentioned port operator in Malaysia.

” Because then you didn’t promote it, you can’t showcase it as an opportunity, because it’s going to cost you more”.

Southeast Asian nations must work up, according to experts, in order to benefit from financial connectivity.

” When you look at ASEAN member states, yes, they are unified. Yes, ( there is ) ASEAN importance. But they’re generally competing with each other”, said Mr Chris Humphrey, executive chairman of the Singapore-based EU-ASEAN Business Council. &nbsp,

” They’re competing with each other for FDI ( foreign direct investment ) flows. They’re competing with each other for business. We need to make sure that rather than competing, we do perform to each other’s advantages”.