Young execs to drive border trade
The state has set its sights on raising border trade to 1.8 trillion baht this year, driven by the growing economies of Cambodia, Laos, Myanmar and Vietnam (CLMV).
Border checkpoint expansion and a programme linking young entrepreneurs in Thailand and the CLMV nations are expected to boost future trade and investment.
According to Commerce Minister Apiradi Tantraporn, the government is pinning hopes on the Young Entrepreneur Network Development Programme (YEN-D) to drive border trade growth by 22% this year from 1.47 trillion baht in 2016.
YEN-D features familiarisation trips and special training courses for young business people in the five countries to help them better understand each other’s culture and regulations.
The YEN-D project is in line with the government’s policy to encourage Thai entrepreneurs to invest abroad and gain a better understanding of the regional market and the trade and investment regulations of Thailand’s neighbours.
The state launched the YEN-D programme in 2015 and has already provided eight classes. Some 560 young entrepreneurs have attended.
This year, the scheme aims to provide four classes to 240 young entrepreneurs, 120 of which are Thais and the rest from neighbouring countries.
According to Mrs Apiradi, the YEN-D programme is expected to raise trade value significantly this year after helping generate more than 1.7 billion baht in trade value last year.
Asada Devayos, president of Quality Plus Group and a participant in the second class of the scheme, said the programme helps create friendships and also business partnerships.
Friendship, once established, makes business matching easier, Mr Asada said, noting that his company has set up sales offices in Vietnam, Cambodia and Myanmar.
Adul Chotinisakorn, deputy director-general of the Foreign Trade Department, said recently that the department would draft strategic plans to drive border trade.
New border checkpoints are planned for Ban Laem and Ban Pakkard in Pong Nam Ron district to link Thailand’s Chanthaburi to Cambodia’s Battambang and Pailin provinces; Prachuap Khiri Khan’s Sing Khon to Myanmar’s Myeik; and Loei’s Tha Li to Laos.
Cross-border networking and partnerships will be beefed up to maximise distribution of Thai products.
The government also plans to support the establishment of distribution centres in Thailand and neighbouring countries.
The proliferation of distribution centres will help small and medium-sized enterprises expand their distribution channels and lower logistics costs, Mr Adul said.