Thailand joins forces with Toyota Tsusho to penetrate African markets

BANGKOK, June (TNA) - The Thai government, through the Ministry of Commerce, has agreed to join forces with Toyota Tsusho (Thailand) Co. Ltd to penetrate new potential markets in Africa. Thailand's Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, and Commerce Minister Apiradi Tantaporn witnessed the signing of the agreement between the Thai Ministry of Commerce's Department of Foreign Trade and Toyota Tsusho (Thailand) Co. Ltd at the headquarters of Toyota Tsusho Corporation in Tokyo on June 5. Toyota Tsusho (Thailand) Co. Ltd is a leading goods distributing firm that has its branch offices opened in 53 countries out of a total of 54 countries in the African continent, in which there are over one billion consumers. The Thai government, thus, expects that the agreement should help cushion Thai exports to the growing markets in Africa, where armed conflicts in many countries have ended, and should boost the value of two-way trade between Thailand and Africa by more than 10 per cent in the future, from more than 8 billion US dollars currently. Major Thai exports to Africa include rice, other farm products, electrical and electronic appliances, mineral ores and jewelry. (TNA)