Bangkok--29 Jun--Siam Commercial Bank
The Department of International Trade Promotion (DITP), Ministry of Commerce, and Siam Commercial Bank (SCB) have joined hands to support Thai small and medium-sized enterprises (SMEs) in expanding into the international trade arena. The effort aims to promote SME networking for mutual support across businesses to strengthen their effective expansion in global markets. Food and beverages will be the lead in an initial promotion, followed by other high potential sectors. There will be five major projects to scale up businesses abroad, and Thai SMEs will be promoted to tap the Cambodia, Laos, Myanmar, and Vietnam (CLMV) markets. With its overseas branch network, SCB is ready to support the expansion of Thai businesses and to facilitate SMEs with total industry financial solutions, including international financial services, so that they can achieve their business goals.
According to Ms. Malee Choklumlerd, Director General of the Department of International Trade Promotion (DITP), Ministry of Commerce, the government prioritizes SME promotion with supportive measures. Particularly, new entrepreneurs are promoted and encouraged to include innovation, technology, and creativity in conducting business. The DITP then proceeds with development and promotion for business operators, especially SMEs, in international trade, so as to prep them with capabilities, readiness, and potential to scale up their businesses for international trade.
The DITP's role in Thai SME promotion covers four major aspects. First, developing SME international trade capabilities through key projects, such as knowledge sharing seminars for SMEs nationwide and promoting Thai SME networking. Second, promoting product and service development in a value-adding approach, branding, innovation, and creativity, with a focus on environmental friendliness in response to the modern global economy. Third, creating opportunities and channels for SMEs to tap markets, particularly ASEAN markets, through an e-commerce project at thaitrade.com, an SME Proactive project, organizing Thai product exhibition fairs overseas, joining international trade fairs, establishing trade representative groups, and a Pee Joong Nong (elder siblings helping younger ones) project for big businesses to help SMEs to concretely tap into export markets. Fourth, developing trade logistics systems to help Thai business operators save costs.
"The CLMV markets and major markets with continuing growth trends present opportunities for Thai SMES to expand trade and investment. The DITP and SCB plan to proceed with a memorandum on cooperation to promote and develop entrepreneurs' competitiveness so that they are ready to enter international trade, particularly by tapping the CLMV markets. Initially, those in the food and beverages and logistics sectors will lead the effort through both DITP and SCBME networks. We focus on educating SMEs and developing their potential. The DITP is confident that our cooperation will help promote and support Thai entrepreneurs in effectively conducting international trade," Ms. Malee said.
SCB First Executive Vice President and Head of the SME Segment Mr. Vipon Vorasowharidsaid that the bank's SME banking segment emphasizes support for SMEs in expanding their businesses to their full potential, particularly expanding trade and investment bases in global markets. Many SCB SME clients have successfully scaled up their businesses abroad. These trends are constantly growing, especially those in the food and beverages sector, which see outstanding growth, thanks to the Thai business operators' strength and potential in consumer markets abroad. This cooperation with the DITP will help strengthen SMEs in different sectors through networking to join forces for even more strength, and add up the value chain with opportunities for business matching and development to other businesses in the future.
SCB First Executive Vice President and Head of the Commercial Banking Products Mr. Wasin Saiyawan said that the bank is ready to facilitate its clients' business expansion with convenient and fast processes and to answer the different needs of entrepreneurs. SCB focuses on serving clients as a business partner, with experienced and expert personnel specializing in international trade services, from the beginning when a client is interested in import and export businesses to the end when sales and payments are complete. With its extensive network at home and abroad, especially in emerging markets like CLMV, and a network of banking partners worldwide, SCB is capable of offering solutions that cope with economic volatility to mitigate risks in international trade. As a result, business operators can focus more on their core business and marketing, and other tasks. Furthermore, the bank has well-rounded knowledge in international trade to facilitate and support business operators in importing and exporting with complete and accurate information, along with seminars to equip them with knowledge to help them grab opportunities to compete in global markets.
The cooperation between the DITP and SCB to enhance SME competence in international markets for SME members under the DITP and SCB networks comprises 5 major action plans: (1) SME Expo-Spring Up Thailand project (2) Logistics and supply chain providers (LSPs) meeting & matching 2016) (3) International investment and business promotion project (Thai SMEs' visits to CLMV) (4) Thai SME network establishment and development for tapping ASEAN markets, and (5) Food Forum to educate SMEs on halal product development for global markets. This will promote and support Thai entrepreneurs to effectively tap into international trade.