Commerce Ministry gives key advices to Thai SMEs for preparation toward AEC

BANGKOK, May 26 (TNA) - With only two years and seven months away for the implementation of ASEAN Economic Community (AEC), Thai manufacturers are urged to build and improve their own brands and services, utilise rural innovative ideas, develop new products, and know how to protect their intellectual property rights, said Nantawan Sakuntanaga, Deputy Permanent Secretary of Commerce Ministry. Thailand will not be able to develop its industrial sector if players tend to receive only production orders for export or assemble spare parts, said Nantawan, adding that “these practices are not sustainable development.” Business entrepreneurs should have a creative thinking as this would help adding value to their products and services, she said. They should also invest in research and development for their products under the climate of fierce competition. The government realises that small- and medium-sized enterprises (SMEs) are still at a disadvantage when compared to large-sized enterprises, especially on access to in-depth marketing technology and on locating funding sources, Nantawan said. She said there are four key solutions to help SME operators. They are eagerness to learn, monitoring movements, preparing for changes and being ready to adjust themselves under every circumstance. Thai business players should adjust their business views in the country first before penetrating the ASEAN and international markets, she said. Also, building business synergy inside and outside the country is necessary for doing business presently as it would help operators to come to know more would-be customers, Nantawan said. A joint investment or direct investment in overseas is also considered positive as the current strong baht could help entrepreneurs in lowering their costs, she added. (TNA)