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Thailand: Ministry preps 450 events
The Commerce Ministry is set to organise as many as 450 activities to stimulate exports this year, focusing mainly on four potential markets: the Middle East, South Asia, China, and Cambodia, Laos, Myanmar and Vietnam (CLMV).
The ministry is also keen to tap new markets such as Central Asia and the Nordic countries, said Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department.
Mr Phusit said the export promotion activities comprise trade missions, participation in international trade fairs, business matching as well as in-store promotions at leading department stores and in e-commerce channels.
He said the export strategy this year is to maintain traditional markets such as the US, Canada, the EU, Japan, China, Hong Kong, Taiwan, South Korea, Asean, Australia, New Zealand, Africa and Latin America.
Mr Phusit said the Commerce Ministry’s export promotion plans will be pursued according to proposals available from its war rooms.
The Commerce Ministry set up the war rooms late last year in order to spur exports, tackle obstacles to trade and curb the negative impact of a global economic slowdown in 2023.
The war rooms are staffed by senior ministry officials and representatives from private organisations.
The committee is chaired by the commerce minister and representatives selected from the Thai Chamber of Commerce, the Federation of Thai Industries, the Thai National Shippers’ Council, the Thai Bankers’ Association, and the Federation of Thai SMEs.
The war rooms suggested that responsible agencies tap four markets offering high-potential, namely the Middle East, South Asia, China, and CLMV.
Mr Phusit said his department also plans to drive exports to new markets offering potential in Central Asia such as Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan and Kyrgyzstan, along with the Nordic countries such as Denmark, Finland, Iceland, Norway and Sweden. The citizens of these countries enjoy relatively high purchasing power.
With regard to e-commerce, the department aims to increase the number of TOPTHAI Store online outlets available via Amazon.com (the US), eBay (the US and Australia), Lazada (Malaysia, Singapore, the Philippines, and Vietnam), AbouThai (Hong Kong and China), and Pinkoi (Taiwan, South Korea, and Japan).
TOPTHAI Store outlets are available at present on seven trading platforms in nine countries, namely Amazon (the US), Tmall (under Alibaba Group [China]), Bigbasket (India), Klangthai (Cambodia), Blibli (Indonesia), PChome (Taiwan) and Shopee (Malaysia, Singapore, and the Philippines).
According to Mr Phusit, the products targeted to help stimulate exports include farm and food products (especially the future food category), pet food, bio-, circular, green (BCG) products (especially lifestyle and fashion, packaging, health and beauty products), certain industrial products such as automobiles and parts, gems and jewellery, agricultural machinery, electrical appliances and electronics.
The department is also going to move ahead this year with plans to organise fully-fledged international trade fairs in Thailand after the easing of the Covid-19 pandemic. The events include STYLE Bangkok (March 22-26), Thailand International Auto Parts & Accessories Show 2023 (April 5-8), THAIFEX-ANUGA ASIA (May 23-27), TILOG–LogistiX (Aug 17-19) and Bangkok Gems & Jewelry Fair (Sept 6-10).
The Commerce Ministry has set a target to grow the country’s exports by 1-2% this year to US$290-293 billion, up from $287 billion last year.
Source: https://www.bangkokpost.com/business/2505924/ministry-preps-450-events