Bangkok--15 Dec--KASIKORNBANK
KASIKORNBANK and eight business partners intend to enhance the readiness of Thai small and medium enterprises (SMEs) for upcoming trade liberalization under the ASEAN Economic Community (AEC) in 2015 by launching “AEC: National Agenda for SMEs” to provide intensive knowledge via training courses of K SME Care. The move is aimed at preparing Thai SMEs for market liberalization under the AEC in 2015 with confidence.
Mr. Pakorn Partanapat, Executive Vice President, KASIKORNBANK said ASEAN has established the AEC, which will take effect in 2015, in order to integrate ASEAN into a single market and production base. This is a crucial national agenda which Thai business operators, including SMEs in particular, must understand and prepare for, as they presently have constraints in terms of capital, knowledge and adjustment for the direct and indirect changes.
Thus, KBank has joined hands with eight organizations, including the Department of Trade Negotiation, the Department of Business Development, the Department of Export Promotion, the Department of Industrial Promotion, the Office of SMEs Promotion, the Federation of Thai Industries, the Thai Chamber of Commerce and Chulalongkorn University, to present “AEC: National Agenda for SMEs” in order to prepare Thai SME operators for the single market of the AEC in 2015. The intensive training courses under K SME Care will provide content related to AEC as follows:
1. AEC Self-Assessment Tool is available on the website www.ksmecare.com for assessment of SMEs in terms of their status and readiness to enter the AEC. The assessment tool is divided into 3 stages based on firstly, measuring individual entrepreneur’s capability amongst themselves, secondly, evaluating entrepreneur’s capability within their respective industries and thirdly, assessing competition within a regional level. This assessment tool seeks to enable SME entrepreneurs to gain sufficient knowledge in order to enhance their business capabilities further a field.
2. Knowledge support will be provided for SME preparedness and business potential as follows:
- Basic knowledge will be provided for those who currently have insufficient knowledge and market potential regarding AEC. The K SME Care platform has been adjusted accordingly for 2012 under the concept of “AEC Readiness for SMEs 2012”, with an emphasis on business management courses in five key dimensions completed with comprehensive perspective on AEC. These courses will be offered via the K SME Care program in 2012, with three classes available for 500 SMEs each in 10 provinces nationwide, namely Bangkok, Chiang Mai, Chiang Rai, Lampang, Udon Thani, Khon Kaen, Phuket, Chon Buri, Rayong and Chanthaburi. Applications for the first class of 2012 can be made from December 14, 2011, to January 16, 2012. Additionally, the K SME AEC Flagship Center for SMEs has been established as a center of information, news and activities related to the AEC, a beneficial and complete source of such knowledge for business operators. KBank is the first bank in Thailand to establish such a center, where AEC-related book corners as well as consistent advisory service by business partners will be provided. Beneficial AEC-related information and news will also be publicized via the website www.ksmecare.com, for an up-to-date and convenient news source.
- Intermediate knowledge is provided for SMEs already having some knowledge and understanding about AEC but in need of fulfilling their potential. Workshops will be held to give in-depth and specific knowledge as well as industrial knowledge for their capability enhancement.
- Advanced knowledge is provided for SMEs with existing knowledge and high business potential related to AEC. Common business models will be created as guidelines to enhance their competitiveness at a regional level.
Mr. Pakorn added that Thai SMEs need to adjust themselves for the new challenges of the AEC establishment, which will benefit them in terms of tariff reduction to zero percent, decrease of non-tariff trade barriers, market expansion, operation costs cut through the relocation of manufacturing bases to other countries with cheaper costs, and creation of investment opportunity with other business groups among country members. Meanwhile, they will soon face intense competition, particularly from countries with greater capital. Some SMEs may lose market share to goods with lower production costs in the domestic market, and lose skilled labor to countries with higher wages.
Interested business operators can apply to join “AEC: National Agenda for SMEs” at the AEC Flagship Center for SMEs at Chanchuri Square by calling 0 2160 5203-4, or ask for more information at the K-Biz Contact Center, 0 2888 8822.