Wednesday, April 24, 2024
HomethailandgeneralHong Kong firms mull expansion in Thailand

Hong Kong firms mull expansion in Thailand

Hong Kong companies are showing interest in having manufacturers and logistic firms in Thailand, according to Thai trade representative Nalinee Taveesin.

Speaking after a meeting with Ronald Ho, director of the Hong Kong Trade Development Council’s Southeast Asia and South Asia in Bangkok on Sunday, Ms Nalinee said Hong Kong has been Thailand’s ally in trade and investment as well as tourism for a long time.

The meeting was a follow-up to Prime Minister Srettha Thavisin’s visit to Hong Kong to meet potential investors at the beginning of this month. The meeting also focused on exchanging information and tightening trade relations, she said.

After the Covid-19 pandemic receded, Hong Kong became interested in expanding its market to Asean, including Thailand, with 30 companies looking to invest and set up production bases and logistics systems in the kingdom, she said.

This cooperation will help Thai businesses, particularly small and medium-sized enterprises and start-ups, acquire channels for product distribution and knowledge development in various fields, including e-commerce.

During the meeting, Mr Ho also invited Mr Srettha to attend the Asian Financial Forum in Beijing in January.

Ms Nalinee also met with Kevin Yang, chairman of the Hong Kong Fashion Designers Association, to discuss ways to promote Thai silk in the world market.

Mr Yang suggested that Thailand present stories of its silk to the world to show that it is not only used to make clothes but also decorations and furniture through exhibitions.

The design of Thai silk dresses should also reduce the formality to make them more accessible to teenagers, he said.

“Hong Kong is a bridge connecting China with the rest of the world,” Ms Nalinee said. “Hong Kong is also known as a financial and investment hub and a centre of international trade, goods and human resources.”

She added that last year, the trade value between Thailand and Hong Kong was worth about US$11.8 billion.

Hong Kong is also Thailand’s 13th major trade partner, with main Thai exports being computers, components, jewellery and electrical circuit boards.

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