Australia is encouraging its businesses, particularly its small firms, to learn more about Thailand, especially as a base of investment for the Asean markets.
Australia Ambassador to Thailand James Wise said last week that too few Australian companies have done business and invested in Thailand, but with the growth of Asia and Thailand, investors should be encouraged to do more business in the country.
Industries that Australians have eyed are food, agricultural processing, logistics, alternative energy and services, he said.
Since Australian investors had tremendous expertise in those businesses, they believe Thailand could serve as a new base to penetrate the Asian and ASEAN markets.
To promote more investment and trade with Thailand, the Australian-Thai Chamber of Commerce or AustCham Thailand recently hosted the first Australian Business Forum (ABF) in Bangkok. The ABF aims to promote Australian businesses – particularly small to medium-size firms – in Thailand and surrounding markets.
Last year, Australia’s merchandise trade with Thailand was worth A$15 billion (Bt444 billion), while services, both exports and imports, were worth $3.35 billion. The total was $18.4 billion.
Leigh Scott-Kemmis, president of AustCham Thailand, said the ABF was an excellent vehicle to engage the Thai business community and while the focus was be mainly on Australia and Thailand, priority would also be given to markets around Thailand, particularly Myanmar.
AustCham aims to create a close-knit, Australian-related “community of interest”. It will be a catalyst for expansion. The ABF will bring together businessmen, whether Australian, Thai or other nationalities, who have an interest in Australian-Thai commerce, the Nation reported.
