The Asia Pacific Economic Cooperation forum has released a survey that shows an improvement in financing trade in more than half of their economies. The survey was released during APEC meetings in Singapore.
The survey released Monday indicates trade finance has since July improved in most APEC economies as more cash has become available.Twelve out of the 19 APEC economies surveyed said companies conducting trade had no serious problems accessing funds. That compares with eight out of 18 APEC economies surveyed that felt that way in July.The survey does not say which of APEC’s 21 economies were surveyed, but says they are optimistic that trade finance will ease further in the next six months.
The survey comes as senior officials from APEC economies met for a second day in Singapore to discuss recovering from the global financial crisis and improving business in the Pacific Rim. Free trade agreements top the agenda – both agreements already in existence among members, and the proposed APEC agreement that would liberalize trade across the Pacific.Elizabeth Chelliah is chairwoman of APEC’s committee for trade and investment. She says APEC members need to learn what works in free trade agreements as they move toward creating an APEC-wide deal.”We can actually use a ready made FTA outside there as a possible vehicle so APEC can still concentrate on doing what it’s very good at doing – awareness, capacity building, dialogue issues,” Chelliah said. “And [as] economies become more comfortable I hope over the next year or two we will be able to set the timeline for development of this FTA.”Chelliah says APEC members have been studying how the European Union expanded its free trade area, as well as the ASEAN-Australia-New Zealand trade agreement and the Trans-Pacific Strategic Economic Partnership.Although there is no firm timetable for an APEC free trade agreement, Chelliah says there has been substantial progress on liberalizing trade among some members.
via VOA News – APEC Economies Report Improved Trade Finance, Discuss Free Trade.
1.7 million Thais without smartphones register for "Rao Chana" benefits
The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.
BANGKOK (NNT) – The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.(more…)
BoI allows private sector in border logistics center
NAKHON PHANOM (NNT) – The Thailand Board of Investment (BoI) has agreed to allow the private sector getting involved in the construction of a border logistics and transport center in Nakhon Phanom province.
Transport Minister Saksayam Chidchob said the BoI approved in principle providing incentives to the private sector concerning this center.
The incentives will be offered in relation to an inland container depot project, a distribution center project and a project to construct buildings for industrial plants and warehouses.
Thailand Post joins Prompt Song app to buy supplies at market for restaurants
BANGKOK (NNT) – Thailand Post Distribution Co., Ltd. has joined with the Prompt Song application to buy supplies at a market for restaurants via the online system, which is another option for vendors during the COVID-19 situation.
Mr. Pheera Udomkitsakul, Managing Director of Thailand Post Distribution Co., Ltd, said that the delivery service through online ordering is another service operated by Thailand Post via the e-Marketplace Platform in the form of the Prompt Song application.
Thailand Post will pick up products from the manufacturer or distributor and store them at a temperature controlled warehouse. The area is divided by a modern system. The vehicle tracking system is managed using a bar code to ensure that the products are delivered to the service’s users on time. The delivery times ate 3-8 a.m. The service is being piloted in Bangkok and its vicinity.
This will solve a problem for restaurant operators who can’t buy ingredients for cooking or market closures due to the COVID-19 situation as the application allows the vendors to wait in front of the restaurant.
Mr. Pheera said that a good and comprehensive logistics system will play a very important role in helping operators reduce problems and costs, systematization and distribution and reduce the risk of product defects. It saves time in product distribution, resulting in smooth and efficient trading.
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