Agencies join hands to help Thai SMEs up their standing in Middle East
The Federation of Thai SMEs has joined up with the Department of South Asian, Middle East and African Affairs to help local SMEs boost their market share in the Middle East.
Federation chairman Sangchai Theerakulwanich told the reporters on Thursday that the federation had organised an online training with more than 300 SMEs participating. The training was in cooperation with the government and private sectors to support and promote Thai SMEs to gain access to export markets to the Middle East.
Sangchai said that the country’s exportation to the Middle East values more than 250 billion baht per year while the gross domestic product (GDP) of each country in the Middle East market is high. He also said that these countries have quality workers, important sources of funds and natural energy, such as oil and gas, which is important to the Thai economy while there are market gaps that can open up new market opportunities.
“As for Thai exports from January to August, the value of exports to the Middle East market was over 174 billion baht. In 2020, the export value totaled more than 225 billion baht and over 257 billion baht in 2019. If there are cooperations to develop capacity, quality and standards that are continually meet the market demand, including promoting Thai SMEs' products, the value of exports in this market should increase rapidly which would be the future market for the SMEs,” said the federation chairman.
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