By The Nation
The Trade Policy and Strategy Office (TSPO) of the Ministry of Commerce today held the “CLMVT Cross-Border Digital Trade” to promote e-commerce and digital transformation with the aim of digitizing traditional cross-border trade and create business opportunities throughout the CLMVT region.
TPSO’s director general Pimchanok Vonkorpon explained that the seminar was an offshoot of the successful CLMVT Forum 2019 and would provide an excellent opportunity not only for businesses to equip themselves with greater awareness and better understanding of how to apply e-commerce and digital trade tools to enhance their cross-border trade activities, but also allow the relevant government agencies to learn how to construct a digital cross-border trade database. More than 300 participants from CLMVT and Asean attended the seminar, which kicked off with a talk “Open the Door to Opportunities.
The Asia Pacific, including Asean and CLMVT, has the world’s highest share of B2C e-commerce to GDP which currently stands at 4.5 per cent and the value is projected to reach US$38.1 billion in 2019 with a 2014-2020 CAGR of 37 per cent, according to the UN-ESCAP and Asian Development Bank (ADB). The region’s share is higher than that of North America and Western Europe. Within CLMVT, Thailand ranks first in total e-commerce value at Bt2.24, Bt2.5, Bt2.7 and Bt3.1 trillion n 2015-2018, respectively. Thailand’s B2C e-commerce value also grew 14 per cent in 2018 and is expected to increase to 16 per cent in 2019. Moreover, the B2C E-commerce Index 2017 report that examines global e-commerce readiness by the UNCTAD ranks Thailand at the 49th place in the world and first in CLMVT.
Pimchanok said that e-commerce and digital trade have been and will continue to be a crucial tool to exponentially enhance CLMVT’s intra-regional trade both qualitatively and quantitatively. She also added that the seminar would serve as a significant stepping stone for realising the goal of CLMVT to become a new global value chain hub where entrepreneurs can fully utilise digital technologies and where new business collaborations are formed for the better and more sustainable growth and development of the CLMVT economy.