Thai SMEs Seek Business Partners in Asia's Last Frontiers
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.
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.
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