Business leaders in Thailand and the CLMV countries are urging their governments to use local currencies for trading along borders instead of the US dollar to facilitate business and cut costs. Sanan Angubolkul, president of the Thailand-Vietnam Business Council, said using local currencies would benefit business operators and eventually boost trade value along border areas. Mr Sanan said businesses in these five countries do not have to wait for all parties to be ready to create new initiatives, including using local currencies in trade. Countries can also partner with those that are ready to adapt to using other currencies, he said. "The move would benefit business in the region immediately if they begin a bilateral agreement to initiate new cooperation, including using local currencies in trade," said Mr Sanan.

Source: Bangkok Post October 26, 2016 00:00 UTC