The Thai Commerce Ministry has sought the assistance of the Japan External Trade Organisation (JETRO) to improve access for Thai small and medium-sized enterprises (SMEs) to the Japanese market. In the first eight months of this year, the bilateral trade between Japan and Thailand was worth an estimated US$59 billion, with Thai exports amounting to US$24.6 billion and Japanese imports to US$34.4 billion. The Ministry aims to promote the use of the existing Free Trade Agreements (FTAs) between Thailand, ASEAN, and Japan to strengthen market access.
Deputy Commerce Minister Napintorn Srisunpang recently held discussions with JETRO chairman Kurada Jun and they have agreed to organize a seminar for Thai SMEs and Japanese businesses in Thailand. The seminar will focus on utilizing the FTAs, namely the Japan-Thailand Economic Partnership Agreement (JTEPA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), and the Regional Comprehensive Economic Partnership (RCEP), to enhance market access. This initiative aims to facilitate trade between the two nations and increase opportunities for Thai SMEs, particularly in the agricultural sector.
With bilateral trade between Japan and Thailand at a significant value, the Thai Commerce Ministry recognizes the importance of supporting Thai SMEs in accessing the Japanese market. Collaboration with JETRO and the organization of a seminar will provide valuable information and opportunities for Thai SMEs to establish connections with Japanese businesses. By leveraging the existing FTAs, Thai SMEs can overcome trade barriers and further expand their presence in the Japanese market, contributing to the growth of both economies.
