Dept encouraging exporters to set foothold overseas

Director-general Srirat Rastapana said the agency had devised a project to promote more Thai companies to become internationalised enterprises, so that they have a wider source of raw materials and a broader range of markets.
“Thai producers and exporters can no longer solely remain in this country, because of the high competitiveness of the [increasingly] seamless market worldwide. The AEC will also allow the free flow of trade in goods, services and investment,” she said.
“We [Thailand] should grasp the opportunity to expand business by investing overseas, in particular in Asean and [other] emerging markets with higher demand for goods.”

MATERIAL SOURCING
Under the plan, enterprises will be supported in their sourcing of raw materials overseas, expanding their production bases to other countries, and seeking new trading opportunities and technology abroad for developing their manufacturing.
To help businesses, the department has assigned 63 trade counsellors overseas to conduct a study and create a handbook about investment regulations in each country, the sourcing of raw materials for particular industries, the details of potential trade partners in those countries, and demand and marketing methods in each market.
The department will also organise seminars to provide in-depth information on each target country for traders and potential investors.
For instance, manufacturing companies will be advised to invest in neighbouring countries, Srirat said, citing in particular those engaged in farming and agricultural industry, as they could then benefit from the Generalised System of Preferences.
Service businesses should also be successful in Asean, as regional markets have a rising number of middle-class consumers and foreign investors, with a high demand for services.
In Africa, investors and traders should look for raw materials for the jewellery and fishery sectors, she said, while spa, healthcare and beauty businesses have good potential in China.
Manufacturers of consumer goods also have a good opportunity to expand their production bases to India, said the department head.
She added that companies also had the potential in many countries to set up franchise businesses, trade copyright goods or set up agencies to increase their sales.
The department is also copying the Japan External Trade Organisation’s working model in setting up an AEC centre, where businesses can get in-depth information about Asean trade and investment.
The information should also be available online soon, she said.