Thai operators urged to expand businesses into neighboring countries

BANGKOK, May 7 (TNA) - The Ministry of Commerce is encouraging Thai business operators to expand trade and investment into neighboring countries to maintain their business opportunities in the region. Surasak Riangkrua (สุรศักดิ์ เรียงเครือ), Director-General of the ministry's Department of Foreign Trade, told journalists on Wednesday that many countries, especially those in Asia and the Association of Southeast Asian Nations (ASEAN), have informed him that they want to invite Thai business operators to invest in trade and services in their countries. Surasak suggested that, as many Thai small and medium-sized enterprises (SMEs) are facing financial problems due to a slowdown in the national economy, Thai entrepreneurs should expand their businesses into the trading partners, where Thai investment is welcome, to boost their liquidity and to avoid more closure of Thai SMEs. Surasak pointed out that the value of Thailand's border trade has kept rising by over 10 per cent on average over the past few years, worth over 950 billion baht. The senior official predicted that the value of Thailand’s border trade should further grow after the formation of the ASEAN Economic Community (AEC) by next year and his department is, therefore, organizing a business-matching trip with business operators in Laos and China, focused on home decoration, furniture, vegetable, fruit, seasoning and service businesses, in which interested Thai business operators are welcome to join from May 26-30. (TNA)