Background of the trade relations between Malaysia (MY) and Thailand (TH)
MY and TH are both members of ASEAN. In the year 2020, export goods to TH from MY were over $10 billion US dollars. The main products exported from MY are integrated circuits, petroleum, and electronic equipment. Both states maintain an overall positive trade growth, despite the rate fluctuations of Malaysia export to Thailand and vice versa. This is because a strong bilateral diplomatic relationship enhanced the socio-economic developments in the shared land border. It was predicted that international trade between both states will continue to grow and consolidate their relationships.
TH has implemented an e-custom system whereas the time and costs of delivering goods are relatively low compared to other countries. This also, therefore, accelerate the demand in both countries. There are few procedures that are needed to complete by senders beforehand. These include the procedures such as registration, declaration, inspection and more. These procedures are subject to the types and amount of goods.
Why export is so important for both countries
Sending goods overseas are vital because both MY and TH are highly export-dependent economies since the global recession in 2009. MY, being one of the largest palm oil exporters in the world, has had a positive impact on the country’s overall GDP growth since the 1970s. The production and transportation of goods from MY accounted for over 25% respectively. Alongside the income equity, export goods to TH and other places have a significant impact on the poverty gap in MY.
Whilst TH ranked 22nd in the world as the largest export economy with products including rice, rubber, diamond, and gold which bring a total of more than $34 Billion of sales in 2021. International trade is crucial for each country because these activities contribute to the economical growth of the countries by creating more markets and demands. These are also to enhance and maintain the good relationships of both countries. The ongoing international trading is an implication of growth do mostly good than harm.
How can BBF Logistics help?
Bintang Baru Forwarding (BBF) is a one-stop MY and TH cross border logistics company that makes exports and imports more convenient and reliable. We started off being a forwarding agent in Perlis, 28 years of experience have made us where we are now with more than 1500 appointed clients and 94K of success. We offer several services to support all individuals and mainly focusing on cross borders logistics such as Malaysia export to Thailand. Other services are:
Other than that, we also offer a free consultation to all customers before making the decision to work with us. Moreover, the insurance coverage we offer is able to cover all transportation. We are very consistent and professional with all of our services, therefore we gained trust from all customers.
Bintang Baru Forwarding , one of Malaysia’s leading Cross Border logistics solution service provider was founded back in 1993. From its humble beginning in year 1993 as a forwarding agent in Perlis, we have grown tremendously over the years.
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