Amnatcharoen OTOP goods seeking Lao market niche
Amnatcharoen OTOP goods seeking Lao market niche
Amnatcharoen pro vince is seeking to exchange information and market research to expand trade with Laos v ia its One Tambon, One Product (OTOP) scheme.
The north-eastern Thai province is currently holding its OTOP Fair 2016 running from June 1-6 at the Vientiane Center shopping mall.
Amnatcharoen province Governor, Mr Yingyot Thanachan, said on Thursday that the event aimed to showcase various Amnatcharoen products and especially create opportunities for Lao and Thai firms to exchange trade and find potential business partners.
Mr Yingyot said the fair had set up 50 booths as a way of conducting market research and promoting OTOP products in Laos.
He commended the cooperation of the business communities from the two countries who were building networks as well as taking advantage of potential opportunities.
According to a report by the Lao Ministry of Planning and Investment, Laos' exports this year were expected to reach about US$2.1 billion with a large amount of those goods destined for Thailand or Thai ports for consumers overseas.
Thailand and Laos previously agreed to double their bilateral trade to US$8 billion by last year, up from US$4 billion in 2011. In 2012 trade between the two countries was worth US$4.82 billion, up 23.82 percent from the previous year.
Thailand is Laos' top trading partner and a lifeline for vital imports such as finished oil, vehicles, machinery and steel. Likewise Laos exports a large amount of scrap metal, processed wood, fruit and vegetables to Thailand.
Mr Yingyot said with Laos and Thailand coming together in the Asean Economic Community and the two countries sharing a border, there was potential to expand and enhance bilateral trade.
An exhibitor at the OTOP event said her spa products were generating plenty of interest among Lao customers and she was now dealing with a local distributor.
She believed the event was a great opportunity to share business information, further enhance trade development, and allow Amnatcharoen firms to connect with Lao customers.
