Ministry of Commerce finds treasure in South China, helping Thai businesses to penetrate Chinese market

General Press Releases Monday September 3, 2018 15:49
Bangkok--3 Sep--The Ministry of Commerce

The Ministry of Commerce 5and its unit, the Department of International Trade Promotion and the Department of Foreign Trade in association with the New Economy Academy and the Bangkok Post group are set to organize the seminar "Finding treasure in South China, getting to know first, getting rich first,'' expecting to enter the high potential South China market, adopting a strategy of going into secondary cities such as Kunming and Pingxiang. The plan is to pave the way for Thai fruit traders to use South China as a gateway to every province of China, which is home to a population of 1.3 billion. The seminar will be graced by prestigious specialists and experts in Chinese market who will offer their perspectives, point out business opportunities, and boost Thai-Chinese cooperation. The Ministry is drawing up a strategy to access the South China market. Mr. Sontirat Sontijirawong, Minister of Commerce will preside over the opening ceremony and deliver an inaugural address titled "Opening the Gateway to South China".

Mr. Sontirat Sontijirawong, Minister of Commerce, chairman of the opening ceremony, mentioned about the significance of the South China market, saying that "China is a market on which the Ministry of Commerce places strong emphasis because it is a vast market with a massive population of 1.3 billion and is a major market for Thai agricultural produce. The Ministry of Commerce aims to promote Thai fruits to be sold in every province of China so that produce such as longan and durian which are popular among Chinese have markets in any season. The ministry plans to use South China to link every Chinese province such as Kunming and Pingxiang, which are important strategic cities that the Ministry of Commerce is planning to use as key areas to support Thailand to become a super power of fruit production. The government wishes to see Thai entrepreneurs use opportunities created by the state to sell fruits and other types of products through various channels, with the government has paved the way and sought cooperation with China. The ministry has adopted an export strategy of penetrating new markets which are secondary cities, maintaining existing markets and promoting E-commerce and supporting Thais to invest in foreign markets in order to create opportunities for Thailand to become a sustainable fruit producing country, '' Sontirat said.

Ms. Banjongjitt Angsusingh, Deputy Permanent Secretary of Ministry of Commerce, said that "the value of Thai exports from January to June 2018 was worth 125.811 billion US dollars, surging 11%. The value of trade between Thailand and China was worth 3.9 billion US dollars, increased 12.33% from the same period last year. The value of Thai exports to

China was worth 14.818.74 billion US dollars of its total global export market and import value 24,609.37 billion US dollar. China has developed to become Asia's trade center. Kunming is the market with high potential for import of products and services from across the world especially products produced by foreign companies which have invested in Kunming. These products have witnessed strong growth and Kunming has become an important retail market of China."

"For South China, Kunming and Pingxiang are strategic locations that link China's One Belt One Road trade with the CLMVT group of countries (Cambodia, Laos, Myanmar, Vietnam and Thailand). It is a new high potential route for trade that links Asia with Europe. This new market channel provides Thai exporters an additional venue to penetrate and reach new consumers in each Chinese province that have different behaviors. The Ministry of Commerce's Department of International Trade Promotion has formulated a strategy to access Chinese markets by expanding trade to secondary cities. The department has entered many markets in different provinces such as Hainan, Guangdong, Zhejiang, Sichuan and Shanghai through trade exhibitions in Thailand such as THAIFEX – World of Food Asia 2018 and trade exhibitions in Chinese provinces in association with leading Chinese department stores. The government has helped Thai SMEs to access Chinese markets through these trade platforms."

"Besides, Thailand and China have entered Thailand-China Free Trade Area, which helps Thailand receive more trade benefits from China ranging from exporting goods to importing raw material especially for some Thai industries that still depend on imported materials from China. Some Thai entrepreneurs have established production bases or factories to produce parts in China. Across the trade route, Thai businesses especially Thai SMEs can enter new high potential markets from 60 million Thais to 250 million people in CLMVT to 1.3 billion Chinese. This presents Thai SMEs a significant trade channel to access Chinese market and provide them a great opportunity to grow with sustainability." Ms. Banjongjitt concluded.

The Ministry of Commerce and the organizers of this event are confident that attendants to the seminar ""Finding treasure in South China, getting to know first, getting rich first,'' will receive useful advice from experts in Chinese markets both from the state and private sectors to help them "prepare troops and draw up strategies" before effectively penetrating the South China market. The Chinese trade specialists include those from the Department of International Trade Promotion, the Foreign Trade Department, China and ASEAN Think Tanks and Thai-Chinese Strategic Research Center – TCSR, Board of Trade of Thailand and the Chiang Rai Chamber of Commerce. Their valuable information will help Thai entrepreneurs build on their business and enjoy sustainable growth in the Chinese market.

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