Bangkok--23 Sep--Bangkok Bank
Many of Thailand’s leading SMEs will this week showcase their offerings at one of China’s most prestigious international business exhibitions, with the event open to Thai exhibitors for the first time in its eight-year history.
The Office of Small and Medium Enterprises Promotion (OSMEP) is leading more than 200 Thai companies attending the China International SME Fair with Bangkok Bank being one of four Thai sponsors of the Thailand Pavilion, and the only bank. Bangkok Bank will also have a booth at the fair and its executives will be present to assist those seeking to benefit further from the growing links between China and the ASEAN region. CEO Suwatchai Songwanich of Bangkok Bank (China), its local subsidiary, will also participate in the event.
The China International SME Fair is being held in Guangzhou from September 22-25 and for the first time is being co-hosted by Thailand, at the invitation of the Chinese organizers. More than 3,000 SMEs from more than 30 countries and regions are attending.
Bangkok Bank Executive Vice President Virasak Suthanthavibul, who is leading the bank’s delegation to Guangzhou, says the fair will be an opportunity for Thai SMEs to explore tapping into the dynamic Chinese market, develop business relationships with Chinese companies and exchange ideas with their counterparts.
“Bangkok Bank and Bangkok Bank (China) will be on hand to help Thai SMEs to pursue business opportunities arising from the fair. With more than 25 years in China, and four branches of Bangkok Bank (China) long well-established, we are ready to support these Thai SMEs with a wide range of services, whether it be advising on the business landscape in China, providing yuan-denominated payment solutions, or helping complete purchases. We can also provide tips on how to set up a business or enter into a partnership in China,” said Mr. Virasak.
China is Thailand’s biggest export market; in the first half of this year, total bilateral trade between China and Thailand was worth USD 31.3 billion, an increase of 27 percent year-on-year.
Guangzhou is the capital of Guangdong, which is traditionally the most prosperous region in China and the strong business and family ties between Thailand and this region go back for generations.
“About one-third of Thailand’s trade with China comes from Guangdong and there are large investment flows going in both directions,” said Mr. Virasak.
“As Chinese companies in this region are looking to expand their presence in Southeast Asia, there are tremendous opportunities for further business collaboration between Thai SMEs and Chinese SMEs, including in areas such as manufacturing, engineering, textiles and food processing.”
“Bangkok Bank’s first full branch in China was established in Guangdong in 1992 and is now located in the province’s economic hub of Shenzhen. The presence of a well-established Thai bank in the region has been a crucial factor in helping Thai companies become established there,” said Mr. Virasak.
Bangkok Bank is the only Thai bank with a local subsidiary in China, Bangkok Bank (China), with headquarters in Shanghai and branches in major economic regions, namely Shanghai, Beijing, Shenzhen, and Xiamen.
Thailand’s SMEs will display their products and services at the fair in a national hall covering more than 10,000 square meters. The participating Thai SMEs represent several industries: food and beverages, including organic products; fashion and lifestyle, including home decoration products, Thai herbal cosmetics, health tourism and spas; medical devices; digital content, including media; electronics; automotive; and petrochemicals.
The fair is expected to stimulate business-matching deals worth at least Baht 450 million in investments.