July 7, 2014

OAE: Thailand could expand agriculture in ASEAN region

Thailand has considerable opportunities to expand agriculture in other Southeast Asian countries, specifically nations at or near its border, according to the Office of Agricultural Economics (OAE).

Bhumisak Rasri, the director of OAE's Agricultural Economic Operation Centre, said the formation of the ASEAN Community in 2015 would introduce these opportunities in other ASEAN countries which are large markets with abundant resources.

Laos, Myanmar and Vietnam are the potential countries, as recommended by Rasri who encourages local investors to conduct sufficient research on such markets.

He opines that Thailand should invest in organic farming, advanced agriculture, rice mills, aquaculture and the production and processing of aquatic livestock in Cambodia.

Additionally, investment in the production and processing of farm products, livestock development, and freshwater fisheries in the Mekong River, Laos, can be considered, Rasri added. Indonesia is also highlighted for Thailand's possible involvement in the agro-industries and food processing there.

In the meantime, Myanmar is promoting investment in various types of agriculture and the potential enhancement of local farmers.

In 2013, most of Thailand's foreign direct investment in Southeast Asia went to Singapore, followed by Indonesia and Malaysia.