'Look to Middle East, India'
The Middle East and India, with their fast-expanding economies, are becoming attractive markets with trade opportunities in a variety of sectors, particular jewellery and consumer goods, a trade fair planner said yesterday.
"Exports to traditional key markets such as the European Union have shown slow growth, so moving to the Middle East and India will help increase business for Thai traders," said Akawut Tangsilikusolwong, managing director of Vega International. According to the Export Promotion Department, exports to the Middle East grew 27.07 per cent to US$5.95 billion (Bt205 billion) last year. Demand was strong for automobiles, rice, jewellery, food products and garments. Last year, exports to India - mainly plastics, televisions, steel, automobiles and jewellery - rose 17.9 per cent to $1.8 billion. Akawut said the cost for participating in trade fairs in new markets was also much lower than in traditional markets. The Middle East and India trust the quality of Thai consumer goods, he said. United Arab Emirates officials have recently won a salary hike of 20 per cent, which should whet their appetite for more luxury goods. So far, Thailand has gained only a small share of the jewellery market in the Middle East, despite jewellery trading growing by 30-50 per cent annually in the region. Exporters must do more to penetrate the region, such as by studying consumer behaviour and market trends there before making the leap, Akawut said. For instance, unlike in Europe, sets of large jewellery pieces are well received by Middle Eastern and Indian buyers. About 20 Thai jewellery traders are expected to attend the 15th Jewellery Exhibition in Abu Dhabi, the largest jewellery trade fair in the UAE. Vega International will responsible for the Thai attendees. Pakdee Anupongpaiboon, a director of the company, said the Kuwaiti market was hungry for Thai food, consumer goods and services. Kuwait can also serve as a gateway for Thai products to enter other members of the Gulf Cooperation Council (GCC) with high purchasing power. The GCC members are the UAE, Kuwait, Bahrain, Oman, Qatar and Saudi Arabia. Thailand's exports to Kuwait rose 25.4 per cent to $192 million last year. Kuwait will hold its biggest International Food Exhibition in Mishref from September 3-12. Thai exporters should take this opportunity to explore the market there, Pakdee said.
Petchanet Pratruangkrai The Nation
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