Thai entrepreneurs from various industries are seeking business collaborations and networking with Sabahan and Sarawakian entrepreneurs through the upcoming Bridging Trade and Investment Relations between Thailand and East Malaysia trade forum.
Ambassador of Thailand to Malaysia Narong Sasitorn said the forum, set for August 21 in Kota Kinabalu and August 23 in Kuching, would portray the future outlook of the Thai economy under the newly-elected government and outline potential trade opportunities between Thailand and East Malaysia. “Malaysia and Thailand have long-standing ties in terms of trade and investment. However, Thailand’s trade with Malaysia is currently concentrated in the Peninsula, especially in the Klang Valley and Penang. “With abundant resources, Sabah and Sarawak are among the states with the highest business potentials. I truly hope that this event will open up new business opportunities and partnerships between our two countries and bring our business communities even closer,” he said in a statement today.
The forum will be jointly organised by the Commercial Affairs Office under International Trade Promotion Department, Thailand Commerce Ministry, the Federation of Sabah Industries, and the Sarawak Business Federation. Eleven Thai companies will be participating in the business matching session with business leaders from Sabah and Sarawak involved in the food, automotive and manufacturing industries.
Meanwhile, Thai Minister Counsellor for Commercial Affairs Patcha Wutipan said the forum would be a great opportunity for Thai, Sabahan and Sarawakian entrepreneurs to build their networks. “We expect to grow two-way trade and explore investment opportunities in Sabah and Sarawak. “However, there are also a few challenges that we have to overcome, particularly lack of knowledge of each other, as well as high logistics and transportation costs in order to expand trade volume whether export or import,” she said. She said there are several industries that Thailand has the competitive advantage such as agro-industry, food and beverage, automotive, refrigeration and air-conditioning, tourism, and creative services. “These are the potential areas that Thailand, Sabah and Sarawak could start building up business collaborations,” she added.