Argentina seeks increase in trade with Thailand

Felipe Frydman, the South American nation's ambassador in Bangkok, said the seminar entitled "Argentina's Economic Outlook and Trade Opportunities" would give Thai businessmen an opportunity to learn more about trade opportunities.

The seminar will be held on August 14-15 at Shangri-la Hotel.

Speakers include Somkiat Anuras, vice chairman of the Board of Trade, Charivat Santaputra, deputy permanent secretary of the Foreign Ministry, and Luis Maria Kreckler, under-secretary of International Trade of Argentina.

An Argentine trade mission will provide information on trade, investment, markets and competitive sectors such as tourism, machinery and farming.

The delegation from Argentina, which includes 15 private companies from food and wine sectors, leather, energy industry equipment and lubricants, will exchange information during the business matching.

"We hope the seminar and the trade mission will increase two-way trade and investment opportunities between Argentina and Thailand," Frydman said.

There are many opportunities and sometimes businessmen are afraid to explore new markets, as Latin America is very far, he added.

He said Argentina had fully recovered from its economic crisis and the economy was growing at an average of 8 per cent.

Argentina is very efficient in agricultural production and the prices of commodities have increased the income of farmers, Frydman said. The country also has a developed industrial sector, especially agricultural machinery, agribusiness, equipment for NGV vehicles, nuclear technology, steel and seamless pipelines.

Bilateral trade between Thailand and Argentina reached almost US$1 billion (Bt33 billion) in 2007, and trade in the first half of 2008 stands at $403 million.

Argentina exports agricultural products, soybean, soy flour, leather, pharmaceutical drugs, wine, candies, aluminium and some steel products.

Thailand imports soybean for feeding because it cannot find enough protein in the domestic market.

Thai exports to Argentina are growing after Toyota established a plant in the South American country. Thai exports include air-conditioners, electronic products, electrical appliances and spare parts for automotive plants.

The Argentine trade mission will try to reverse the trend of exporting agricultural products in exchange for industrial products.