HONG KONG/BANGKOK: The Hong Kong Trade Development Council (HKTDC) and Thailand’s Office of SMEs Promotion (OSMEP) today signed a Memorandum of Understanding (MOU) on the promotion of bilateral SME development and economic cooperation between Thailand and Hong Kong. The agreement was witnessed by Thai Deputy Prime Minister Somkid Jatusripitak and signed by OSMEP Director General Salinee Wangtal and HKTDC Deputy Executive Director Benjamin Chau.
Under the MOU, the two parties will promote SME development and economic cooperation between Thailand and Hong Kong by exchanging SME development-related information, encouraging Thai SMEs to participate in HKTDC trade fairs and other activities, jointly promoting products made by Thai SMEs in the international market as well as organising seminars, contests and delegations to support bilateral SME development.
Prior to the signing ceremony, a meeting was held between the HKTDC, Deputy Prime Minister Somkid Jatusripitak, Thailand’s Minister of Industry, Uttama Savanayana, the Director General of Thailand’s Department of Industrial Promotion, Pasu Loharjun, and representatives of OSMEP and the SME Development Bank of Thailand. The parties discussed various issues, including support for development of high-tech industries, upgrading of traditional SME business and strengthening cooperation between Thailand and Hong Kong. After witnessing the signing of the MOU, Thai Deputy Prime Minister Somkid Jatusripitak was accompanied by HKTDC Executive Director Margaret Fong on a tour of the Hong Kong Gifts & Premium Fair now underway at the Hong Kong Convention and Exhibition Centre.
Hong Kong and Thailand enjoy close and strong bilateral ties with frequent business and cultural exchanges. In 2016, Thailand was Hong Kong’s third largest export market in the ASEAN region, with a total export value of US$6.15 billion. Thailand is also the third-largest source of Hong Kong’s imports in the ASEAN region, amounting to US$10.59 billion. In addition, Thailand is Hong Kong’s second largest trading partner in the ASEAN region with bilateral trade of US$16.7 billion last year.
Established in 1966, the HKTDC is a statutory body dedicated to promoting Hong Kong trade, organising more than 30 international trade fairs in Hong Kong each year. OSMEP, with the status of a governmental agency, is responsible for stipulating SME promotion policies and is committed to creating better domestic and overseas business environment for Thai SMEs.
