On Monday March 5th, the World Trade Center Arkansas hosted Mrs. Kessiri Siripakorn, Commercial Minister to Thailand, along with nine of her fellow delegates for a business seminar to promote U.S. trade with Thailand.The event was held at the World Trade Center’s headquarters in Rogers, and was attended by over 80 business professionals from throughout the state of Arkansas.
Minister Siripakorn opened up the seminar with an overview of bi-lateral trade between Arkansas and Thailand, highlighting the Thai region’s strengths among the world’s trade market, and the importance of a strong partnership between the two.
Mr. Perapat Uthaisri, Counselor to the Minister, followed Mrs. Siripakorn, speaking on Thailand’s economic structure and how it has come to obtain the 2nd largest economy amongst the ASEAN (Association of Southeast Asian Nations) countries. It is easy to see that with a minimal unemployment rate of 1.2%, as well as a 7.8% GDP increase in 2010, Thailand has succeeded in establishing a strong and promising economy.
Thailand’s robust economic growth has created numerous opportunities for U.S. foreign direct investment in a number of infrastructure sectors, including electrical power, transportation and renewable energy. Thailand is the 27th largest export market for U.S. goods, making an astounding 21.7% increase in 2011 alone. Mr. Uthaisri made it known that Thailand is the 16th largest U.S. market for agricultural products, a key market for Arkansas businesses, which factored into the $25 million in goods that was exported from the Natural State to Thailand. Arkansas does its fair share of importing from Thailand as well, with over 40 companies bringing goods into the state from 17 different Thai suppliers.
Mrs. Somjin Plengkhum, Executive Director of Thai Trade Center, New York also spoke during Monday’s seminar, showcasing the networking capabilities her company establishes between U.S. and Thai businesses looking to expand their product markets. The Thai Trade Center provides professional business matching through trade missions to and from Thailand, trade fairs, and in store promotions of Thai products, with a focus on food, fashion and social media. Mrs. Plengkhum noted a growing trend of Thai companies building their companies in the U.S. to maintain a strong partnership with American companies.
The seminar was concluded by Mr. Steve Johnson, Marketing Manager for the Tourism Authority of Thailand, based in New York. His presentation gave the attendees a chance to see the true beauty of visiting Thailand for business…or pleasure. World-class culture, an ideal climate, ease of accessibility through a strong infrastructure, and accommodations that rank second to none according to Steve, are all reasons for adding Thailand to your list of places to visit.
While in Northwest Arkansas, Minister Siripakorn and her delegates visited a few local businesses in the region, including the Fayetteville Chamber of Commerce, and were given a full tour of the Crystal Bridges Museum of American Art.
