Issue 65

Pakistani Commerce Permanent Secretary H.E. Mohammad Younus Dagha held a meeting with Commerce Permanent Secretary Wiboonlasana Ruamraksa at the Commerce Ministry, Thailand on April 21 to discuss trade and investment between the two nations.

“Thailand is negotiating a free trade agreement (FTA) with Pakistan to reduce tariff and non-tariff barriers in trade, and to allow Thailand to import more raw materials from Pakistan,” Ruamraksa said.

In 2016, Pakistan was Thailand’s 38th largest trade partner. Over the past five years, the trade value between Thailand and Pakistan averaged US$1.04 billion with an annual growth of 2.33%

Issue 65

Thailand and Russia have agreed to cut trade barriers, following a joint meeting of the two countries’ trade and economic cooperation sub-committee held on April 21.

Commerce Minister Apiradi Tantraporn said that at the meeting it was agreed to reduce trade and investment barriers, targeting a five-fold increase in two-way trade in 2019 with a trade value of US$10 billion.

The two countries will also conduct a feasibility study on a free trade agreement (FTA) between Thailand and the Eurasian Economic Union, which includes Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.

Issue 65

Chinese consumers are ready to pay more for high quality, healthy food and beverages, DITP General-Director Malee Choklumlerd said on April 17.

Data from the Thai Trade Center in Chengdu revealed there is a higher demand for health food and food made from natural products as Chinese consumers become increasingly health-conscious. In 2015, the beverages showing the highest growth rate were coconut water (30%), followed by soybean milk (6%) and almond milk (4%).

“Potential Thai food and beverages for China’s market include fresh fruit, dried fruit and fruit juices, such as coconut water and mango juice,” Choklumlerd said.

Issue 65

The Ministry of Commerce has encouraged Thai entrepreneurs to export more products to Indonesia, one of the greatest potential markets in the ASEAN region, Commerce Minister Apiradi Tantraporn stated on April 21.

“Around 10 to 20 million Indonesians or 10% of the total population have a very high purchasing power and need good quality products,” Tantraporn said. “Thai businesses should focus on four major cities, namely Jakarta, Medan, Surabaya and Makassar, that have ports and can be used as distribution centers to other parts of the country.”

In 2016, trade value between Thailand and Indonesia was US$14.45 billion.

Issue 65

A boom in Chile’s food trucks has provided a great opportunity for Thai entrepreneurs to export autos and auto parts to the South American nation, DITP General-Director Malee Choklumlerd said on March 30.

According to the Thai Trade Centre in Santiago, the number of food truck operators in Chile has increased from 800 in 2016 to 1,200 in 2017.

“Currently, Thailand is the largest supplier of pick-up trucks and heavy trucks used in the mining industry in Chile,” Minister Counselor (Commercial) Chulalak Khemthong said. “The food truck boom has lead to a higher demand for vans, motor tricycles and trucks, which can be modified for use in the food truck business. It is a great opportunity for Thai entrepreneurs to expand their market segment and export auto accessories to Chile while Thai restaurant owners can also open new businesses here.”

Issue 65

Commerce Vice Minister Winichai Chaemchaeng, presided over the grand opening of the Bangkok International Gift and Houseware Fair (BIG + BIH April 2017), organised by the DITP in collaboration with the Thai Lifestyle Products Federation and the Design and Objects Association, on April 19.

The fair, which ran from April 19 to 23 at BITEC, Bangna, featured more than 1,000 booths where both Thai and international exhibitors showcased their products for buyers from all over the world. The show attracted more than 45,000 visitors and generated sales value of about US$22 million (800 million baht).