Thailand to host forum to push CLMVT growth

Commerce Minister Apiradi Tantraporn said that this event would be a good opportunity to strengthen ties in a bid to drive growth together amid the global liberalisation.
The forum will bring together the leading policy-makers, entrepreneurs, business leaders, academics and young leaders from the five nations to participate in the roundtable discussions.
About 600 participants from CLMVT countries as well as from countries in Europe, and Japan will join. Delegates will also be taken on a field trip to some of Thailand’s tourist destinations.
Apiradi said that closer ties among CLMVT countries should help promote trade, investment, and tourism growth together, as it will be a great chance for the government and the private sector to address problems and seek solutions, as well as promote collaboration in various sectors.
She added that CLMV is a high-potential market for Thai export growth because of the high population and the increasing purchasing power. Those countries could also be a bridge for Thailand’s shipment to third countries.
According to the ministry, exports to CLMV accounted for 10.4 per cent of the Kingdom’s total trading value. Investments in those countries also accounted for 10 per cent of total direct investment, while about 10 per cent of foreign tourists visiting Thailand each year come from CLMV countries.
Amidst the global economic slowdown, the CLMVT economy still enjoys strong growth, averaging 5.8 per cent annual expansion from 2011 to 2014, while income per capita is now US$2,927 per year. It also has a high combined population of 235 million, with most of the population in the working age. Tourism Minister Kobkarn Wattanavrangkul said that CLMVT countries could strengthen tourism cooperation and facilitate tourists to visit several destinations. The government also aims to promote travel to not only major cities but also to smaller cities as a strategy to spread income among local people.
This year, the ministry is expected to drive the number of tourists from CLMV countries to 10 per cent expansion.
Industry Minister Atchaka Sibunruang said that as foreign companies are considering investments in CLMV countries, Thailand, by virtue of its location could serve as a hub for the global value chain.
The CLMVT Forum will be held from June 16-18 at Dusit Thani Hotel in Bangkok. Prime Minister General Prayut Chan-ocha will preside over the opening ceremony and speak on “CLMVT: Prosper Together”.
With cooperation from 11 alliance agencies from both the government and the private sector, the forum will be conducted under the concept of “Towards a Shared Prosperity”. Leading executives from major corporate giants like Nissan Motor Asia Pacific, Huawei Technologies, DHL, Accor Group, as well as rising-star small and medium-sized enterprises from the five countries will join the event.