TTR to promote private sector’s investment in war zone countries

BANGKOK, 9 June 2010 (NNT) – The Office of Thailand Trade Representative (TTR) draws up a strategy to promote private sector’s investment in trading partner countries other than focusing on product distribution measure.

The private sector will be promoted to invest further in partner countries particularly among new markets of the war zone countries including Kazakhstan, Uzbekistan, and Kyrgyzstan, as these countries have high potentials, with few competitors.

TTR is to cooperate with the government’s financial institutions to pool an investment budget to support Thai investors such as Exim Bank, SME Bank, and the Government Pension Fund.

Thailand Trade Representative Watchara Panchet stated that the first business to be promoted in accordance with this strategy was Thai food industry as it tended to be highly successful. Businesses to be invested include farming, warehouse, instant food, finished food and Thai restaurant.

Mr Watchara Panchet viewed that this strategy would help Thai industry and export expand with better turnovers. Meanwhile, the number of exports of Thai food industry is expected to peak to a trillion THB within 2012 from 820 billion THB anticipated in 2010.