Author: normanfoelsche0
Japan – Myanmar Announces Direct Border Trade Currency Settlement with Thailand; Plans Similar Non-Dollar Convertibility with India in Near Future
The Myanmar Government has agreed to accept the Thai baht as an official currency for settling border trade starting this month. Thailand is the second country after China to permit its national currency to be exchangeable with the Myanmar kyat for border trade activities. Myanmar’s Minister of Information (MOI) Mr Maung Maung Ohn and Minister of Investments and Foreign Economic Relations (MIFER) Mr Aung Naing Oo said in a joint statement today that the kyat-baht initiative is a significant development as Thailand is Myanmar’s second largest trading partner after China. The Myanmar Government intends to initiate similar currency convertibility for ... Read more