Thailand works to spur exports to Cambodia, among four potential markets

Thailand’s Commerce Ministry is scheduled to organise about 450 activities to stimulate exports this year, focusing mainly on four potential markets namely the Middle East, South Asia, China, and the CLMV (Cambodia, Laos, Myanmar and Vietnam), a senior official has said.

The ministry is also keen to tap new markets such as Central Asia and Nordic countries, Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department, was quoted by Bangkok Post as saying.

According to Phusit, 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.

The export strategy this year is to maintain traditional markets such as the US, Canada, the EU, Japan, mainland China, Hong Kong, Taiwan, the Republic of Korea, ASEAN, Australia, New Zealand, Africa and Latin America.

Specialised units were set up by the ministry last year to spur exports, tackle obstacles to trade and curb the negative impact of a global economic slowdown in 2023, the official said.

With regard to e-commerce, the ministry aims to increase the number of TOPTHAI Store online outlets available via in the US, eBay in the US and Australia, and Lazada in Malaysia, Singapore, the Philippines and Vietnam.

The ministry is also going to move ahead with plans to organise fully-fledged international trade fairs in Thailand after the easing of the COVID-19 pandemic.

The Commerce Ministry has set a target to increase the country’s exports by 1- 2% this year to $290-293 billion, up from $287 billion USD last year.

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