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The East–West Economic corridor is an economic development program initiated in order to promote development and integration of 5 Southeast Asian countries, namely: Myanmar, Thailand, Laos, Cambodia and Vietnam. The concept was agreed upon in 1998 at the Ministerial Conference of the Greater Mekong Subregion, organized in Manila, the Philippines.
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, the European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa, Saudi Arabia, the UAE, Turkey, and Iran are becoming increasingly important as major markets or source countries in various regions.
The economy of Asia comprises about 4.7 billion people (60% of the world population) living in 50 different nations. [1] [2] Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. [11]
Indian Look East policy from 1993 and Thailand's Look West policy since 1996 set the stage for a substantive consolidation of bilateral relations. The past few years since 2001 have witnessed growing warmth, increasing economic and commercial links, exchange of high-level visits on both sides, and the signing of a large number of Agreements ...
As of 2020, many of the estimated 5,500 Japanese companies in Thailand have facilities in the area. [ 6 ] After the 2014 coup , the NCPO announced the creation of a special economic zone (SEZ) called the Eastern Economic Corridor (EEC) with a budget of 1.5 trillion baht (US$43 billion) over its first five years. [ 7 ]
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Western Thailand's geography is characterised by high mountains and steep river valleys. The region hosts much of the country's less-disturbed forest areas. Water and minerals are important natural resources. Western Thailand is home to many of the country's major dams, and mining is an important industry.