Building Global Alliances: Connecting Thailand’s Industries with International Markets
Exploring Thailand’s Trade and Investment Potential in the Electronics, Construction, and Household Appliance Industries, including Air Conditioning, Refrigeration Machines, and Automotive in the Indonesian Market
Thailand is currently recognized as one of the emerging centers of industry and trade in Asia, particularly within ASEAN, as evidenced by the “Thailand Industrial Business Matching” event held on Thursday, May 02, 2024, at the Kempinski Hotel Jakarta.
This significant event, organized by the Thailand Trade Center (TTC) Jakarta and the Department of International Trade Promotion (DITP), has garnered significant attention amid the ongoing economic expansion.
According to Mrs. Hataichanok Sivara, Director of the Thai Trade Center Jakarta, the focus of this event is to explore trade and investment opportunities between Thailand and Indonesia, particularly in the electronics, construction, and household appliance sectors such as air conditioning, refrigerators, and motor vehicles.
Official records indicate that in January 2024, Thailand witnessed six consecutive months of export growth, driven by the resurgence of the electronics sector and increased agricultural product exports. Figures from the Thai Ministry of Commerce show a 10% year-on-year increase in exports last month, reaching $22.64 billion, marking the fastest growth in 19 months.
Between 2024 and 2026, Thailand’s GDP is projected to grow at an average annual rate of 3.4%, marking a significant increase from the 2.5% recorded in 2023 and approaching its long-term potential. However, this growth remains slightly below the pre-Covid-19 pandemic average of 3.7% over the previous decade.
Thailand’s industrial sector has grown significantly since the 1980s, maintaining its position as one of the largest industrial centers in Southeast Asia despite the increasing presence of multinational corporations. This event aims to facilitate discussions on market prospects and potential collaborations between Thai and Indonesian companies.
