EXIM Thailand Joins Forces with Amazon
Support Caravan of Thai Goods Penetrating E-commerce Market
Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), said that global trade and economy in 2023 has been challenged by multi-faceted risk factors, whether they are inflation hike, upward trend of interest rates and prolonged Russia-Ukraine war, coupled with pressures from the banking crisis in the US and Europe. The International Monetary Fund (IMF) has recently lowered its global economic growth forecast to only 2.8% and global trade has tended to expand by merely 1.7%. However, bright prospects are still seen in E-commerce market in overall, predicted to grow by over 10% from 5.5 trillion US dollars in 2022 to 6.1 trillion US dollars in 2023, 6.8 trillion US dollars in 2024 and 7.4 trillion US dollars in 2025. Furthermore, according to a survey of entrepreneurs, particularly SMEs, with business operations in ASEAN in 2022, 90% of the entrepreneurs are interested in Cross-Border E-commerce (CBEC), but most of them have restrictions as regards understanding of e-commerce know-how, foreign market information, business potential, resources and competitiveness in E-commerce market dealings.
To support the entrepreneurs with such aspiration, EXIM Thailand has collaborated with Amazon Global Selling Thailand and Department of International Trade Promotion, Ministry of Commerce, in organizing a training program titled “Bring Thai Goods to Fly High on Cross-Border E-Commerce with Amazon” during May 23-July 18, 2023 at EXIM Thailand’s Head Office and the Northern Science Park, Chiang Mai University. The program aims to develop capabilities of Thai SMEs so that they would be well prepared for driving their businesses confidently toward E-commerce by providing them with training, business matching, financial advice, introduction of risk management tools, and arrangement of CBEC workshops targeting the US, European and Asian countries. This would benefit entrepreneurs and enable them to access Amazon.com network of more than 300 million customers worldwide. Some of the training topics are opening of accounts with Amazon, registration of US trademark and certificate of the US Food and Drug Administration, fulfilment by Amazon and store opening on Amazon.com. The program participation is free of charge. For further information, please contact EXIM Contact Center, Tel. 0 2169 9999 and Amazon Global Selling Thailand, Tel. 08 9505 0766. “E-commerce is not a choice, but a salvation for businesses in the Next Normal era. EXIM Thailand has thus launched a CBEC with Amazon training program for Thai entrepreneurs by enhancing their literacy of market analysis, CBEC approaches, preparation of products, registration of trademarks in the US, arrangement of stores on Amazon.com, E-commerce tools, and product promotion planning. To thoroughly allow for provincial entrepreneurs’ access to the program, the training program will be organized at EXIM Thailand’s Head Office in conjunction with the Northern Science Park, Chiang Mai University to boost export and E-commerce literacy of SMEs of all sectors, with EXIM Thailand and Amazon closely supporting as their mentors. This aims to strengthen Thai businesses’ confidence in competing globally amid numerous challenges and opportunities in the global markets,” added Dr. Rak.
