The Thai Commerce Ministry asked for help from JETRO to improve access for Thai SMEs to the Japanese market.
In the first eight months of this year, bilateral trade between Japan and Thailand was estimated at US$59 billion. Thai exports to Japan amounted to US$24.6 billion while Japanese imports amounted to US$34.4 billion.
- The Thai Commerce Ministry is seeking support from JETRO to help Thai SMEs gain better access to the Japanese market, especially for farm products.
- Thailand has three relevant FTAs with Japan, ASEAN, and RCEP, which have contributed significantly to Thai exports to Japan.
- There is potential for increased investment and cooperation between Japan and Thailand in various sectors, including hotels and intellectual property rights training.
The Thai Commerce Ministry Seeks Support from JETRO
The Thai Commerce Ministry has reached out to the Japan External Trade Organisation (JETRO) for assistance in enhancing the access of Thai small and medium-sized enterprises (SMEs) to the Japanese market, particularly for agricultural products.
Seminar Planned to Promote Thai SMEs
Deputy Commerce Minister Napintorn Srisunpang recently discussed the matter with JETRO chairman Kurada Jun. They both agreed to organise a seminar for Thai SMEs and Japanese business people in Thailand, aiming to promote the utilisation of the FTAs between Thailand, ASEAN, and Japan in order to strengthen market access.
There are currently three significant Free Trade Agreements (FTAs) in effect: the Japan-Thailand Economic Partnership Agreement (JTEPA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), and the Regional Comprehensive Economic Partnership (RCEP).
Focus on Enhancing Banana Exports
Napintorn highlighted the importance of hom thong bananas and requested JETRO’s assistance in locating Japanese startups that can provide expertise and technology for improving the quality and productivity of Thai bananas. This support is expected to expand the fruit’s market presence in Japan.
JETRO, or the Japan External Trade Organization, is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO’s core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential. JETRO has offices in over 70 countries and regions worldwide, including Thailand