The move is part of a bid to capture a significant global market share for One Tambon One Product (Otop) and other small-scale merchandise.

Export Promotion Department director-general Chantra Purnariksha, Department of Business Development director-general Orajit Singkalavanich, Export-Import Bank of Thailand (Exim Bank) president Apichai Boontherawara and Thai Intertrader Association (Tita) president Cachapum Sirichanachai yesterday signed a memorandum of understanding (MoU) at Exim Bank headquarters.

The purpose of the MoU is to foster competitiveness among intertraders, export-oriented small and medium-sized enterprises (SMEs) and Otop

producers and foreign business operators.

Under the MoU, the four parties will collaborate on the development of intertraders' ability to operate an export business and import raw materials and new production technology more efficiently. Apart from counselling intertraders, exporters and export-oriented Otop producers, Tita will help the four-party alliance meet their demands. Through this partnership, activities will be organised to equip intertraders and SMEs with the comprehensive knowledge and ability necessary for international success.

Activities will include marketing events, business matching and integrated export-management training courses covering topics ranging from start-up exporter preparation to technical capacity-building and trading strategies. Also provided will be information services, as well as tailored financial services in the form of loans, export-bill negotiation and, particularly for new buyers in unfamiliar markets, export credit insurance offering protection against commercial or political risk of non-payment from customers abroad.

The scope of this cooperation also extends to SMEs and Otop communities interested in exporting their wares. By linking these potential exporters with existing intertraders, their products can be more widely distributed to foreign markets. Meanwhile, SMEs and Otop entrepreneurs can obtain knowledge about market demand, which will be essential for further development of their products.

This MoU, therefore, marks the beginning of a strong partnership between the public and private sectors that will enhance the standard and quality of Thai products and open distribution channels for exports in the global marketplace. This combined support will play a key role in sharpening long-term entrepreneurial competitiveness, which is considered necessary for Thailand's sustainable development.