Issue 47

Horizon Thailand talks to Witt Maneenetr, Trade Commissioner & Consul, Thai Trade Center in Hong Kong about how Thai businesses are looking for business opportunities in Hong Kong.

What are the trade opportunities for Thai companies in Hong Kong?
Tradeshows are an important marketing tool for Hong Kong, not just to sell to Hong Kong or mainland China but there is a chance to connect to buyers from all over the world. Many Thai companies in Hong Kong are actually looking for customers from as far away as South America or Russia. It’s also a place for them to meet up with existing customers and show their new products.

What kind of Thai products attract foreign buyers?
Apart from jewellery and food, cosmetics have now become an important product made in Thailand, especially cosmetics that are natural, organic or associated with health and well-being. In the last two or three years Thailand has been very successful in manufacturing cosmetics for companies overseas. Moreover, digital content which includes mobile application development, graphic design and animation is also growing.

What are Thailand’s strength in the gems and jewellery industry?
Thailand’s strength is in silver jewellery and colour stones. Thai businesses and brands have very good designs and are always developing products and new collections. Some of the Thai companies that are participating at the Hong Kong International Jewellery Fair have designs that really appeal to Japanese customers. So companies that want to export should always be thinking of new products. The DIY trend in the jewellery industry is also becoming more popular now, such as charm bracelets which make each piece of jewellery unique for customers. Each charm may not cost much but together their value adds up.

How has the Thai jewellery industry changed in the last few years?
Thai gems and jewellery manufacturers used to do OEM (Original Equipment Manufacturing) but the DITP has been working with many organisations to develop their business. Now 70% to 80% of Thai companies participating at the jewellery fair here are doing ODM (Original Design Manufacturing) or OBM (Original Brand Manufacturing). Now Thailand’s advantage lies in the reasonable price of labour for craftsmen in the jewellery industry compared to labour costs in other manufacturing countries. We also need to develop ourselves to be a trading centre. If foreign investors are manufacturing in Thailand we should help find markets for them, they will come to us and we can create many opportunities for the country.

What are the new trends that we should be aware of?
Digital and intellectual property rights (IPR) is what everybody should be paying attention to. These trends will have an effect across many industries and especially on trade. With new technology coming out every day, lawmakers and businesspeople have to find a way to monitor and track the new changes that are happening in the digital platform.