IMT-GT is a classic growth triangle characterized by strong economic
complementarities, geographical proximity, and close historical, cultural and linguistic
affinities between the participating countries. Yet, actual trading links between the three
countries are far below potential. Percentage of trade between IMT-GT member countries
relative to total trade by each country is not high compared to their trade with other trading
partners such as Japan, US and PRC. The largest trade flows are between Malaysia and
Thailand who share a common border, and relatively better infrastructure connectivity.
Between 1995 and 2005, there was significant increase in Thailand’s trade with Indonesia
and vice versa. However, these are national-level data which do not account for substantial
intra-country variations in economic activities. Data on trade specific to IMT-GT region are
not systematically collected and collated, and are thus not readily available. To enable
quantitative assessment of regional cooperation in promoting intra-IMT-GT trade and to
identify policy issues relevant to trade promotion in the subregion, there is an urgent need
to develop a trade and investment database specifically for IMT-GT. The First IMT-GT
Leaders' Summit in 2005 had also recognized this, and called for development of such a
database. Further, it is also recommended that the impact of infrastructure constraints on
trade and investment be quantified by undertaking a comprehensive survey of the trade
and investment climate in the IMT-GT subregion. Findings from the survey and its
analysis will help empirically inform policy dialog in infrastructure and logistic
development of the IMT-GT economic connectivity corridors.
IMT-GT is a classic growth triangle characterized by strong economiccomplementarities, geographical proximity, and close historical, cultural and linguisticaffinities between the participating countries. Yet, actual trading links between the threecountries are far below potential. Percentage of trade between IMT-GT member countriesrelative to total trade by each country is not high compared to their trade with other tradingpartners such as Japan, US and PRC. The largest trade flows are between Malaysia andThailand who share a common border, and relatively better infrastructure connectivity.Between 1995 and 2005, there was significant increase in Thailand’s trade with Indonesiaand vice versa. However, these are national-level data which do not account for substantialintra-country variations in economic activities. Data on trade specific to IMT-GT region arenot systematically collected and collated, and are thus not readily available. To enablequantitative assessment of regional cooperation in promoting intra-IMT-GT trade and toidentify policy issues relevant to trade promotion in the subregion, there is an urgent needto develop a trade and investment database specifically for IMT-GT. The First IMT-GTLeaders' Summit in 2005 had also recognized this, and called for development of such adatabase. Further, it is also recommended that the impact of infrastructure constraints ontrade and investment be quantified by undertaking a comprehensive survey of the tradeand investment climate in the IMT-GT subregion. Findings from the survey and itsanalysis will help empirically inform policy dialog in infrastructure and logisticdevelopment of the IMT-GT economic connectivity corridors.
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