Bangkok--16 Mar--KASIKORNBANK
KASIKORNBANK and 13 chambers of commerce and trade associations, based in 10 member states of the AEC+3 group, have joined forces for the first time in Thailand to enhance trade, investment, technology and economic information sharing, while boosting regional business opportunities. Trade partner recommendation and business matching activities have been organized to strengthen cross-border trade and investment foundations for Thai businesses.
According to KBank Chairman of the Board Mr. Banthoon Lamsam, it has been KBank's ongoing strategy to become an AEC+3 bank through regional service network expansion and partnerships, while improving the Bank's financial service standards to fully serve cross-border economic and trade activity.
A memorandum of understanding (MOU) for AEC+3 multilateral business collaboration was concluded for the first time in Thailand, signed by 13 partner organizations including chambers of commerce and trade associations from 10 countries. They include the National Chamber of Commerce and Industry Brunei Darussalam (NCCIBD), Cambodia Chamber of Commerce (CCC), China-ASEAN Business Council (CABC), Jakarta Chamber of Commerce and Industry (Kadin DKI Jakarta), Federation of GIFU Prefecture Chamber of Commerce and Industry (GIFU), Osaka Chamber of Commerce and Industry (OCCI), Tokyo Chamber of Commerce and Industry (TCCI), Korea Importers Association (KOIMA), Lao National Chamber of Commerce and Industry (LNCCI), Union Myanmar Federation Chamber of Commerce and Industry (UMFCCI), KASIKORNBANK (KBank), Thai Chamber of Commerce and Board of Trade of Thailand (TCC), and Vietnam Chamber of Commerce and Industry (VCCI).
Under this MOU, cooperation will be carried out on four fronts: Long-term partnership and collaboration for AEC+3 economic development, particularly in trade, investment and technology; sharing of information on economic statistics, trade and investment, and regional investment opportunities; trade partner recommendation for cross-border business; and cooperation in organizing workshops to provide beneficial knowledge and business matching activities.
Mr. Banthoon said the agreement was the first of its kind in Thailand with multilateral collaboration among business-related organizations in the AEC+3 group; it is hoped to help fortify cross-border trade and investment foundations, and strengthen ties among partner organizations towards mutual achievement in the AEC era.
KBank believes it is important for Thai businesses to brace for upcoming changes as, despite ample business opportunities following the AEC inception, they are encountering many challenges such as intensified business competition, more foreign players intending to grab market share and provide choice for consumers, and new technologies that are rapidly changing customer behaviors. As a Thai financial institution, KBank has played a support role in driving Thai businesses towards growth in the global market arena. Therefore, apart from the regional business collaboration, the Bank and The Financial Times also held the "AEC+3 Business Forum 2016: Reshaping a New Paradigm for Growth" seminar. Speakers included founders and executives of successful global organizations who shared their visions of reinforcing business and industry potential in preparing for sustainable growth under new trade and investment platforms. Advisory service on trade and investment in the CLMV group was provided by experts from the respective country. Also at the event, the largest business matching activity of the year was organized for the food and beverage, construction material and medical care industries, comprising participants from 270 companies based in the AEC+3 group. Approximately 300 business matching deals are expected to be completed after the event.