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Thai SMEs Seek Business Partners in Asia's Last Frontiers

Thai SMEs Seek Business Partners in Asia's Last Frontiers
Shutterstock | Myanmar

With the ASEAN Economic Community opening up the region, representatives of 30 Thai small and medium-sized enterprises visited Myanmar from Monday to Wednesday to seek out local partners.

For so long, investors call Myanmar as "final frontier" as there is a sense of the yet-to-be explored about Myanmar. It is the last large Asian economy to become globally connected.

Kitsana Vachekrilas, treasurer of the Thai Chamber of Commerce (TCC) and managing director of Bua Thong Thani Management Co, said in an exclusive interview that all the Thai participants were satisfied with their business trip, as they expected to find partners to help them distribute their products in Myanmar.

The TCC had selected companies with the greatest potential and the best products that were possible to develop in Myanmar among the 120 firms that applied to join the mission.

A Thai firm explains its products to potential partners at a business-matching function in Yangon. Image: Eleven Myanmar
A Thai firm explains its products to potential partners at a business-matching function in Yangon. Image: Eleven Myanmar

 

Most of the selected SMEs represented the most promising lines of business for trade – consumer goods, construction materials, cosmetics and beauty accessories. They had already achieved success in Thailand and wanted to expand to the CLMV countries (Cambodia, Laos, Myanmar and Vietnam).

“It is not complicated to start a business in Myanmar. We need to cooperate. You have a large population and very large market thanks to neighbouring with China, India and Bangladesh,” Kitsana said. 

“That is why many countries want to do business in Myanmar, and Thai companies do not want to miss such a great opportunity.” 

During the trip, the Thai chamber negotiated with its local counterpart on holding international exhibitions in Myanmar. 

A Thai firm explains its products to potential partners at a business-matching function in Yangon. Image: The Nation Multimedia
A Thai firm explains its products to potential partners at a business-matching function in Yangon. Image: The Nation Multimedia

 

The first event will be an international food exhibition like Thaifex, bringing exhibitors from South Korea, Taiwan, Thailand and elsewhere.

 

The two countries have a superb relationship and coordination in business ties thanks to their long border, he said, which led to product exchanges, knowledge-sharing and business collaboration. 

Maung Maung Lay, vice president of the Union of Myanmar Federation of Chamber of Commerce and Industry, said there was still room for improvement in trading with Thailand. 

“Thailand is a friend in need. Whenever we need a friend, Thailand is always there. “It is also one of our major trading partners. We can even reach higher if we work together more extensively,” he said. 

 


Source : Eleven Myanmar 

Tags: ASEAN
Indah Gilang Pusparani

Indah is a researcher at Badan Perencanaan Pembangunan Penelitian dan Pengembangan Daerah Kota Cirebon (Regional Development Planning and Research Agency of Cirebon Municipality). She covers More international relations, tourism, and startups in Southeast Asia region and beyond. Indah graduated from MSc Development Administration and Planning from University College London, United Kingdom in 2015. She finished bachelor degree from International Relations from University of Indonesia in 2014, with two exchange programs in Political Science at National University of Singapore and New Media in Journalism at Ball State University, USA. She was awarded Diplomacy Award at Harvard World Model United Nations and named as Indonesian Gifted Researcher by Australian National University. She is Researcher at Regional Planning Board in Cirebon, West Java. She previously worked as Editor in Bening Communication, the Commonwealth Parliament Association UK, and diplomacy consulting firm Best Delegate LLC in USA. Less
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