Thai lenders step in after Myanmar blocks foreign currency repayment
Thai businesses have been advised to seek funding sources in Thailand or other countries after the Central Bank of Myanmar suspended loan repayment in foreign currencies.
Thai businesses have been advised to seek funding sources in Thailand or other countries after the Central Bank of Myanmar suspended loan repayment in foreign currencies.
Annual bilateral trade between the two countries has remained tilted in Myanmar’s favour, increasing slightly more than twofold between 2019 and 2020 to $28.2 million.
The visit comes only days after US Secretary of State Antony Blinken vowed to keep pressure on Myanmar's junta, and saying China should be in agreement.
The US Secretary of State urged both to put pressure on Myanmar's rulers to return to democracy.
The Asean envoy said Myanmar's government might accept some opposition members if they were to cease fighting, but only under certain conditions.
Asean special envoy on Myanmar Prak Sokhonn also reiterated Asean’s call for a total cessation of violence.
The trip also served to provide humanitarian assistance to the people of Myanmar, including the two million Covid-19 vaccine doses donated by China.
China is a major arms supplier and ally of the military government and has refused to label the power grab that ousted Ms Aung San Suu Kyi's government last year a coup.
He also urged all parties to the conflict in the crisis-hit country to begin negotiating towards a peaceful resolution and a national reconciliation without any further delay.
A junta spokesman also said that the foreign ministers of Cambodia, Thailand, Laos, Myanmar and Vietnam will attend the July 2-5 meeting.