Bangkok--27 Jan--Aziam Burson-Marsteller
The President of the Office of Thailand Trade Representative (TTR), in collaboration with a group of leading trade delegates, announced the 2-year activities that successfully achieved the goal of opening new markets to broaden Thailand’s commercial base, generating trade valued at more than 100 billion baht for Thailand. Thai industries have high growth potential with positive trends for market expansion and the Thai market is well and favorably known abroad.. TTR has prepared the 3-year business and investment plans for particular industrial groups and the plans will be leveraged as the framework for further commercial collaboration and ongoing investment opportunities. An initiative will be introduced to stimulate the growing demand for Thai products in target markets and it is believed to highlight the many attractive aspects of Thai products while stimulate more buying of a greater range of products.
Mr Kiat Sitti-amorn, President of the Office of Thailand Trade Representative reported on the successful results of the numerous activities that TTR has conducted for almost two years (during May 6, 2009 — December 31, 2010), noting that TTR has implemented mandated assignments, as part of its international trade and investment policy and its ongoing economic cooperation with many nations. This marks an important mission of the TTR to coordinate with related agencies to foster unity and stability in international trade via many projects.
The President and his team have undertaken many initiatives to t find new opportunities to open new markets, generating revenue of more than 100 billion baht for Thailand through the following initiatives; they included the establishment of Thai Distribution Center and Food Security Stockpile in Bahrain as a market access for Thai products to enter GCC (Gulf Cooperation Council) countries; the Thai auto-parts wholesale and repair centers in USA; the Thai Khem Kaeng Innovation that promotes investments in R&D on science, technology and high-tech industries; the Ready Meal project: Thai Food to the Global Consumer; the negotiations on time extension of rice tariff reduction under the ASEAN Free Trade Agreement (AFTA) with the Philippines; and the expansion of fast growing and highly acclaimed Thai construction industry in international markets including residential housing units as well as infrastructure and large projects such as airports.
“TTR has also set up the Match Making Missions with relevant offices and private sector delegation to penetrate markets, such as USA, Canada, European Union nations, Latin America, ASEAN countries and Asian nations to promote and enlarge cooperation in trade and investment. We have drafted trade and investment strategies and proposed measures to aid those affected by the free trade agreements,” added Mr Kiat.
In addition to new investment opportunities and ongoing market expansion, TTR has not ignored its responsibility of trying to find ways to resolve various investment and trade problems for local and international companies. A Joint Trade and Investment Consulting Committee that comprises the International Chambers of Commerce in Thailand and related public sectors was set up as a public hearing forum on investment problems and obstacles in Thailand to help seek solutions to the problems.
The major problems that have been resolved were the issuance of work permits for foreigners; the revisions of customs and tax acts; the amendment of property ownership rules and regulations in Thailand, complaint relief mechanicisms for foreign companies and the Thai private sector through international fora and the promotion of government policy and Thailand’s image to enhance local and international investor sentiment.
“To reinforce positive investment expansion and tangible progress on current projects and ensure continual successful future activities, we have prepared the 3-year Thailand trade and investment strategy designed to define international investment policy and strengthen the competitiveness of Thai products in the global market. In addition, we have played a leading role in positioning Thailand’s status with respect to Free Trade Agreements with various nations, such as EU-Thai FTA and Thai-EFTA. We are focused on searching new market opportunities for Thai companies sectors, such as Latin American and African countries and with these efforts we are targeting 30,000 million Baht in new revenue within 3 years,” stated Mr. Kiat.
“For China, TTR has developed a closer relationship at the provincial level to pave the way for trade and investment opportunity for the Thai business sector. TTR is promoting the construction sector in some potential countries, including Vietnam, Brunei, India, Qater, Libya, Bahrain, Sri Lanka and Bangkladesh,” concluded Mr. Kiat.
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