Bangkok--Jul 15--EXIM
Export-Import Bank of Thailand’s Chiang Mai Branch is opened at a ceremony presided over by Mr. Kwanchai Wongnitikorn, Vice Governor of Chiang Mai province, on July 15, 2005. The new branch aims to accelerate EXIM Thailand’s involvement in developing northern exporters and, as a result, strengthen Thailand’s regional economy in the long term.
According to Mr. Sataporn Jinachitra, EXIM Thailand President, the Bank opens its Chiang Mai Branch in response to the rapid growth of custom and border trade in the North. Custom trade in the northern region in 2004 valued 141.37 billion baht, increasing by 21.6% from 116.3 billion baht in 2003 with export and import worth 86.79 and 54.58 billion baht, respectively. Major export goods included circuit breakers, electrical appliances and optical instruments.
Meanwhile, border-trade export value in 2004 amounted to 8.5 billion baht, rising by 60.3% year-on-year. International trade in the northern region continues to expand significantly, driven by increased productivity of Thai entrepreneurs and stronger demand for consumer products from neighboring countries. As a government’s specialized financial institution with a mandate to promote export, regional and international trade, EXIM Thailand recognizes the role of Chiang Mai as a regional center for developing a new generation of exporters as well as enhancing northern exporters’ competitiveness. With the existing state of public utility infrastructure, custom facility and transportation network, Chiang Mai is well-placed as a regional hub for exports prior to their arrival at Chiang Saen Port in Chiang Rai, Klong Toei Port in Bangkok or Laem Chabang Port in Chonburi.
EXIM Thailand’s Chiang Mai Branch provides both financial and information services to existing and start-up exporters, particularly SMEs. Chiang Mai has a large number of SMEs, the majority of whom are agricultural and handicraft product manufacturers lacking experience in export business management. The Bank, therefore, emphasizes comprehensive advisory services relating to export documentation and payment tools in international trade, apart from tailor-made financing packages. Capitalizing on the exporter’s world-renowned ability to create unique and intricate handicraft products, these facilities are aimed at enhancing business planning capability of small-scale exporters in the region as well as their productivity and competitiveness in neighboring and world markets in the long term.
Currently, EXIM Thailand has one Business Promotion Office located at the Department of Export Promotion and 8 branches including Rama II, Rama IV, Sathorn, Bangna-Trad Km.3, Rangsit, Laem Chabang, Hat Yai and, most recently, Chiang Mai branches.
About Export-Import Bank of Thailand
Export-Import Bank of Thailand is a financial institution wholly owned by the Royal Thai Government under the Ministry of Finance’s supervision. The Bank was established by the Export-Import Bank of Thailand Act B.E. 2536 (1993) which empowered the Bank to engage in any financial activities customary to commercial bank practices, except for accepting deposit from the general public. The Bank’s objective is to provide financial services to strengthen the competitive edge of Thai exporters and investors abroad while contributing to the earning or saving of foreign exchange.
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