The Thai Ministry of Commerce is taking urgent action to provide solutions for private sector challenges related to exports to China, as it seeks to expand Thai product shipments to the world’s second largest economy by at least 1%.
The ministry recently hosted a meeting with representatives from seven foreign trade offices and other prominent Thai private sector companies in the Chinese city of Kunming in Yunnan Province in late March.
The meeting focused on planning market expansion and investment opportunities in China, setting a target for exporting Thai products worth no less than US$34 billion, or generating revenue of over 1.2 trillion baht.
The commerce ministry also gave instructions to its commercial attaches to intensify the promotion of Thai goods through modern trade platforms, expand the market, and promote Thai cuisine. The private sector was also encouraged to take advantage of increasing opportunities in Chinese markets, such as trade fairs.
In addition, the ministry emphasized its strategy of supporting the private sector to help overcome trade obstacles in mainland China, especially during the upcoming harvest season for fruit products. It also urged the private sector to prepare for potential issues that could arise at border checkpoints.
Furthermore, activities will be implemented to penetrate the halal product market in China. This would build on the success of the three limited free trade agreements (mini FTAs) that Thailand established in major Chinese cities such as Guangzhou and Chengdu.
Source : NATIONAL NEWS BUREAU OF THAILAND
April 24, 2023
