Thai, S'pore leaders agree to boost regional investment<\/p>\n
BANGKOK (Agencies): Thailand and Singapore agreed yesterday to
\nboost cooperation to gain a better foothold in Southeast Asia's
\nlucrative markets and to help Myanmar, Cambodia and Laos
\nintegrate into ASEAN, officials said.<\/p>\n
Thai Prime Minister Chaowalit Yongchaiyudh his Singaporean
\ncounterpart Goh Chok Tong agreed to pool resources and use
\nThailand as a springboard for investment in poorer Southeast
\nAsian economies.<\/p>\n
The two governments also set up a training and development
\nscheme aimed at easing Myanmar Cambodia and Laos into the
\nAssociation of Southeast Asian Nations (ASEAN) after their entry
\nin July.<\/p>\n
ASEAN decided to admit the three at a meeting in Malaysia last
\nmonth in a move which will expand the regional grouping's market
\nto 500 million people.<\/p>\n
\"Thailand and Singapore need to look on each other as partners
\nrather than as competitors to complement each other's efforts in
\nregional expansion,\" Thai Industry Minister Korn Dabarangsi told
\nreporters.<\/p>\n
\"We must combine our business strengths so that Thailand can
\nbe used as a stepping stone for expansion into Myanmar and
\nIndochina,\" he added.<\/p>\n
He was speaking after Chaoawlit and Goh, who is on a three-day
\nvisit here at the head of a top-level business team, agreed to
\nform a new strategic partnership to boost joint regional business
\nventures.<\/p>\n
The so-called Singapore-Thailand Enhanced Partnership (STEP)
\nwill promote cooperation in the economic, cultural, political and
\nsecurity fields, he said.<\/p>\n
A government spokesman said the agreement also involved
\npromoting trade and investment between Thailand and Singapore,
\nincluding in the fields of personnel, development, training and
\ncivil servant exchanges.<\/p>\n
During his visit, Goh urged Thailand to join a strategic high-
\nspeed telecommunications network linking his country with the
\nUnited States.<\/p>\n
A Thai government spokesman said Goh also told his Thai
\ncounterpart Chavalit Yongchaiyudh that Singapore recognized
\nThailand's crucial role as the future hub of trade and industries
\nin Indochina.<\/p>\n
Last month, Singapore launched a high-speed Internet link to
\nthe United States, the first country in Asia after Japan to do
\nso.<\/p>\n
Ratanakorn said a contingent of more than 70 Singapore
\nbusinessmen who accompanied Goh on a three-day visit showed
\nSingapore was confident in Thailand's economy despite its current
\nsetbacks.<\/p>\n
The weak Thai economy, rocked by problems in its battered
\nfinancial and property sectors, is this year projected to grow at
\nits slowest pace in a decade.<\/p>\n
Ratanakorn said Goh praised Thailand's eastern and southern
\nseaboard projects as a vital future infrastructure base for the
\nIndochinese region that also covers Vietnam, Laos, Cambodia and
\nBurma.<\/p>\n
Goh arrived in Bangkok on Monday. He was due to have an
\naudience with King Bhumibol Adulyadej later in the day and tour
\nindustrial zones in south eastern Thailand on Tuesday.<\/p>",
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