Cebu and Thai businessmen will explore possible partnerships in the field of electronics, agriculture, renewable energy, and construction in a business matching activity today at the Radisson Blu Hotel.
This would be the first trade delegation that the chamber would be engaging this year, which would be timely considering the thrust of most businesses today to expand in the region, Prudencio Gesta, Cebu Chamber of Commerce and Industry president, said yesterday.
“The business matching has been organized directly by Thai Trade Advisor Group. The invitation was handed down by the Thai Embassy. Cebu Chamber (of Commerce and Industry) has been requested to help invite our members to attend the whole day activity,” said Gesta.
Twenty-three companies from Thailand will be presenting their company profiles and products with the aim to seek exclusive distributorship and business partnership in the Philippines.
firms, products
“Aside from seeing their products, Cebuano businessmen can also seek partners among the delegation to help them distribute their products in Thailand. It’s a win-win situation for both parties,” said Gesta.
With the recent opening of direct flight to and from Bangkok, Thailand to Cebu by Cebu Pacific Air, Gesta said it’s about time Cebuano businessmen start exploring the opportunities available for them in Thailand.
“We have basically the same products but there are always opportunities especially that the world is already looking at Asia as the next growth region. It’s about time we look at our neighbors and maximize the proximity we have. We are already strategically located in the region,” said Gesta.
thai products
Thai products will be displayed today at the hotel.
These include electrical appliances such as water system, filtration system, solar water system, electric fan, water filter, shower water heater, ballast, lamp fixture, CFL, air compressor, air curtains for thermal barrier and insect screening.
There will also be machinery and tools which include machinery and cutting tools for wood, acrylic, plastic and steel, incinerator and renewable energy machine, agricultural machinery and tools like drip tape and fittings,walking tractor, rice mill machine, anchor, swivel, fishery blocks, fishery equipment, shovel, rake, turn buckles,shackle, combine harvester, sugar cane harvester and loader, processing mill, palm oil mill machinery, rice harvester equipment and more.
“There will also be some construction materials displayed including adhesives, silicon sealants, PVC compounds, stainless steel pipe, padlocks and locks and automotive parts for pick-up and replacement lamp,” he said.
Exports
Based on figures from the Department of Trade and Industry, as of June last year, Thailand is the seventh top market of the Philippines for export with about $1.4 billion in export value or a 5.19 percent share of the country’s total export value as of June last year.
The data also showed that there was a 35.77 percent improvement from that of June 2011 figures.
The Philippines export beverages, fashion accessories, chemicals, construction materials, electronic products, footwear, food products, furnitures, garments, housewares, industrial scraps, minerals, personal care products, and pharmaceutical products to name a few.
The top three markets of the Philippines is Japan with $4.8 billion export value (17.81 percent share), United States of America with $4.1 billion exports value (15.27 percent share) and China with $3.4 billion (12.76 percent share).
Investments
In terms of investment to the Philippines, Thailand was the top investor in the country in February last year based on figures released by the Board of Investments.
According to the Board of Investments, Thailand ranked highest among the Philippines’ top investors for February last year contributing P2.2 billion.
They are followed by Japan with investment pledges amounting to P703 million. Other nationalities including Taiwanese and Americans have a combined investment of P182 million.