Formulates Short-, Medium- and Long- term Roadmap to Address National Strategic Challenges

Institution: 
The Export-Import Bank of Thailand

 

 Enhancing AEC Economic, Trade and Investment Integration

 

Dr. Naris Chaiyasoot, Chairman of Export-Import Bank of Thailand (EXIM Thailand) revealed after the Business Planning Workshop for 2015 and Five-year Corporate Planning (2015-2019) attended by the Bank’s Board of Directors and Management at EXIM Thailand’s headquarters recently that EXIM Thailand is formulating a plan to meet the challenges of the ASEAN Economic Community (AEC) starting from the end of 2015. Under this plan, EXIM Thailand aims to be instrumental in supporting Thai corporates and entrepreneurs reaching out or expanding their business into the AEC market, particularly the CLMV countries (Cambodia, Lao PDR, Myanmar and Vietnam).

 

EXIM Thailand Chairman elaborated further that the Bank’s activities will be in accordance with its vision “to be a bank that paves the way for new opportunities for Thai businesses in the global arena, particularly in the AEC” as well as national strategic framework and policies. Focus will be placed on public and private sectors’ needs as well as addressing the government’s policies to make Thailand a trading nation, support digital economy, new business trends including green business, innovative products, cross-border trade and development of special economic zones, etc.

 

Dr. Naris reported that EXIM Thailand is working with public and private agencies as well as other associations such as logistics operators and SMEs to draw out a roadmap for short-, medium- and long-terms, highlighting the Bank’s products which complement and do not compete with commercial banks.’ These products include trade and investment risk mitigation services and new products designed to cater for specific business needs and promote economic, trade and investment integration into the AEC. At the same time, these facilities also aim to resolve financial access problem of SMEs and help integrate them into the comprehensive Thai business supply chain, following in close steps along the paths paved by successful large private corporations.

 

Thai businesses with strong potentials to penetrate or expand into the AEC, particularly CLMV, include infrastructure construction business in Myanmar; agricultural machinery and tourist services in Lao PDR; labor intensive factories being relocated to Cambodia; and investment in heavy industries in Vietnam as well as export of premium-graded products to the Vietnamese market.