InfoQuest (July 23, 2019) -- As Thailand's main international trade regulators, the Department of Foreign Trade (DFT) and the Department of International Trade Promotion (DITP) will co-host a symposium on "Unprecedented Trade War-the Eagle Fights against the Dragon" in the Berkeley Hotel Pratunam on August 13, 2019, according to Mr. Adul Chotinisakorn, director general of the DFT. This symposium will aim at boosting the competitiveness of Thailand's small and medium-sized enterprises (SMEs) to respond to the ever-changing global trade.
At the symposium, relevant trade policies, opportunities and barriers in trade and investment, and the business culture of Thailand's major trading partners, will be explained. The event will bring together more than 1,000 participants, including operators from SMEs in manufacturing and service sectors or from import and export fields, and representatives from import and export trade associations or enterprises, start-ups and anyone who is interested in the symposium.
Mr. Adul said the symposium will embrace trade and investment experts and scholars, including Mr. Pisan Manawapat (Senator and former Ambassador of Thailand to the United States), Mr. Arm Tungnirun (Assistant Dean of Chulalongkorn University Faculty of Law), and Mr. Joe Horn-Phathanothai (Chief Executive of Strategy361 Co., Ltd.), and Chinese and Thai international investment strategy experts such as Ms. Kirida Bhaopichitr (Director of the Economic Intelligence Service at the Thailand Development Research Institute) and director generals of the DFT and DITP. These attendees will give special lectures to introduce relevant knowledge.
Mr. Adul added that the trade war between the world's two largest economies, China and the United States, will inevitably weigh on Thai economy, especially SMEs which are engaged mainly in import and export trade, so these companies must be well-prepared and make relevant plans to cope with the constantly changing global trade.
Based on the overall economic performance in the first four months of 2019, China was Thailand's largest trading partner, with two-way trade approaching 800 billion baht. China's economy was witnessing growth, and its GDP growth stood at 6.60 percent. The main products China imported from Thailand covered a wide range such as plastic particles, rubber and related products, chemicals and cassava products. The United States was Thailand's third largest trading partner, with a trade volume of 600 billion baht between the two countries. The major imports from Thailand included electrical appliances, machinery, rubber, jewelry, textiles and processed food.
Source: InfoQuest, by Phana / Kasamarporn / Rachada, translated by Xinhua Silk Road
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