Thailand, Laos, and Vietnam Form Data Center to Streamline Trade on R12 Route, Reducing Costs by 30%
Thailand, Laos, and Vietnam have formed a partnership to create a data center and online platform called "r12connex" to facilitate trade along the R12 Route, a 1,499-kilometer-long trade route connecting the three ASEAN nations.
The MoU signed in Bangkok outlines their collaboration to share necessary trade information, including laws, customs procedures, phytosanitary clearance, transit procedures, and cargo clearing.
The platform will offer regular updates on any regulatory changes.
Thailand, Laos, and Vietnam have agreed to implement a "paperless" trade system, eliminating redundant documentation processes and reducing trade and logistics costs by 30%.
Wimon Punkong, deputy executive director of the International Trade and Development (ITD), stated that the system would help save time on customs procedures and make the R12 route, which is worth up to 30 billion baht in Thai fruit exports to China, more efficient.
The r12connex will serve as a "big data centre" for businesses operating along the borders.
Suphakit Chareonkul, ITD's executive director, expressed his hope that Thai agricultural production would increase, allowing more Thai businesses to establish factories in Laos and Vietnam.
This initiative aims to overcome trade barriers along the R12 corridor and expand sales to China and Japan.
The platform will offer regular updates on any regulatory changes.
Thailand, Laos, and Vietnam have agreed to implement a "paperless" trade system, eliminating redundant documentation processes and reducing trade and logistics costs by 30%.
Wimon Punkong, deputy executive director of the International Trade and Development (ITD), stated that the system would help save time on customs procedures and make the R12 route, which is worth up to 30 billion baht in Thai fruit exports to China, more efficient.
The r12connex will serve as a "big data centre" for businesses operating along the borders.
Suphakit Chareonkul, ITD's executive director, expressed his hope that Thai agricultural production would increase, allowing more Thai businesses to establish factories in Laos and Vietnam.
This initiative aims to overcome trade barriers along the R12 corridor and expand sales to China and Japan.
Translation:
Translated by AI
