More SMEs in Thailand likely to step into e-commerce

BANGKOK, January 3 (TNA) - Amid the global fast changing situation, the Thai government, through the Ministry of Industry, has suggested that more small and medium-sized enterprises (SMEs) in the country turn to the modern e-commerce system to expand their trade internationally. Thai Deputy Industry Minister Somchai Harnhiran voiced the suggestion on Thursday, stressing that SMEs in the country need to adjust their business strategies more quickly than competitors globally as consumers worldwide can now easily access to the same or similar products through the growing e-commerce system on their individual smart phones. "The Thai Ministry of Industry supports more SMEs in the country to apply to the modern e-commerce system to expand their trade to the world market as part of their timely- adjusted strategies to keep pace with the world fast changing situation and greater and greater competition", said the deputy minister. The deputy minister cited a good example that rising SMEs run by single owners and changing their business management to their children, now totally standing at about 3 million in the Thai economy, have started expanding their trade through the e-commerce system with a bright prospect of growing purchasing orders. The deputy minister told journalists that part of Thailand's 5-million-SMEs have also started turning to new businesses through which their existing experiences and technologies can be resorted, such as from the auto part business to the aircraft part business or to the less-sophisticated medical equipment business, or from being suppliers of auto parts for large-scaled manufacturers but facing a slowdown in their businesses to selling their products to the auto-repair or maintenance market with their own brands instead. The Thai deputy minister acknowledged the change, especially for SMEs producing what are now considered short-life products due to growing competitors who fastly develop and introduce the same or similar products with new looks or properties. Meanwhile, the Department of Internal Trade, under the Thai Ministry of Commerce, announced that his department will take immediate action if the prices of seven major items of Thai farm products, used by both domestic industries as raw materials or individual consumers, drop lower than its targeted levels, including oil palm, chicken egg, coconut, onion, garlic and seasonal fruits, in order to keep the Thai farm produce prices stable and maintain local farmers' income. (TNA)