Picture courtesy of Bangkok Put up

Phumtham Wechayachai, commerce minister, is presently on a go to to Hong Kong to market Thailand’s film industry and Y Sequence TV dramas. The go to, which began not too long ago and is scheduled to run till Tuesday, additionally contains exploring avenues to broaden the Hong Kong marketplace for Thailand’s agricultural merchandise.

The go to is led by Phumtham, who can also be the deputy prime minister in cost of financial affairs. The principle objective is to bolster commerce relations between Thailand and Hong Kong.

Deliberate bilateral discussions between Phumtham and Algernon Yau, Hong Kong’s secretary for commerce and financial growth, are primarily centred on increasing the sale of Thai items and companies in the area, notably for small and medium-sized enterprises (SMEs).

As Wittayakorn Maneenetr, the ministry spokesman, acknowledged, the delegation can also be taking part in the Hong Kong Worldwide Film and TV Market (FILMART 2024). The target is to spice up cooperation in advertising Thailand’s Y TV collection globally.

In keeping with this promotional drive, Phumtham is anticipated to supervise the signing of a memorandum of understanding between the Worldwide Commerce Promotion Division and the Hong Kong Commerce Improvement Council.

This settlement helps commerce in three major areas: commerce data change, SME commerce exercise help, and collaboration to advertise commerce by way of e-commerce techniques.

Thai entrepreneurs

The delegation is ready to satisfy with Thai entrepreneurs from 27 firms taking part in FILMART on the Thailand Pavilion. These firms embody 9 film and animation producers and distributors, ten TV programme and collection producers, and eight firms offering film and TV-related companies.

The delegation anticipates at the least 200 scheduled appointments and commerce price a minimal of 800 million baht.

Moreover, the ministry staff plans to carry discussions with the Hong Kong Rice Retailers’ Affiliation and go to China Retailers Godown, Wharf & Transportation Co. to debate the regional rice commerce. Final 12 months, Hong Kong imported 257,200 tonnes of rice, with Thailand being the biggest provider, contributing 148,500 tonnes (57.7%).

This makes Hong Kong Thailand’s third-largest export marketplace for Thai hom mali aromatic rice, after the US and China, reported Bangkok Put up.

Hong Kong is Thailand’s Thirteenth-largest buying and selling accomplice and seventh-largest export market. Commerce between Thailand and Hong Kong in 2023 amounted to US$13.7 billion (473 billion baht), an increase of 6.94% from the earlier 12 months. Thai exports have been valued at US$11.1 billion (382 billion baht), marking a ten% enhance. Nonetheless, imports noticed a lower of 5.04% and have been valued at US$2.61 billion (91 billion baht).

This resulted in Thailand posting a commerce surplus of US$8.48 billion (291 billion baht) with Hong Kong. Main exports included gems and jewelry, digital circuits, computer systems and elements, and inside combustion engines.

Enterprise NewsThailand Information