Lao agriculture, handicraft products have strong export potential: Thai business leader
Lao agriculture, handicraft products have strong export potential: Thai business leader
Agriculture and handicraft products from Laos are in demand in Thailand as well as other Asean markets but Lao producers and exporters should study market potential and accessibility and produce goods that satisfy demand.
There is considerable potential for the export of Lao goods to Thailand, just as the reverse is true, Chairman of Thailand's Nakhon Ratchasima Chamber of Commerce Mr Hasadin Sawatanapongched told Vientiane Times recently while attending the opening ceremony of a Thai restaurant in Laos.
Agricultural products such as coffee and handicrafts like jewellery are well recognised by Thai consumers, he added.
For example, if Lao producers want to sell their goods in Nakhon Ratchasima province, they should produce items that are different to what is already available there. In the meantime, they should improve product packaging and labelling so that Thai people can read it.
If Lao producers consider this issue and improve things, Lao goods could not only be exported to Thailand but also to Malaysia, Singapore and other countries, Mr Hasadin said.
Laos has a able workforce in the agriculture and handicraft sectors so the government should consider ways to achieve this potential, he added.
The government should encourage people to produce a large amount of goods for export and consider different types of products in order to fill different market niches.
If workers have employment within the country, they will not try to seek jobs abroad, Mr Hadsadin added.
Decreasing trade barriers are leading to an increased amount of trade and investment among Asean countries.
Trade between Laos and Thailand has been established over time and is continuing to grow.
The total value of goods imported and exported by Laos from and to Thailand reached more than US$3 billion over the past nine months of 2015-2016.
The export value totalled US$1.3 million while imports reached US$1.7 billion, according to the Import and Export Department of the Ministry of Industry and Commerce.
Total import and export values are expected to exceed US$4 billion for the entire year, according to the plan, while the export value should be US$1.7 billion and the value of imports should reach US$2.3 billion.
