Thaitrade.com e-marketplace provides opportunities for local sellers to reach consumers globally
An announcement from the Bangkok Post featured Thailand’s Thaitrade.com, the national e-marketplace platform that will link local sellers to global channels, thereby producing an expected 10 Billion Baht by next year.
With Thailand's planned national e-marketplace Thaitrade.com, increased trade volume up to 10 billion baht is expected by next year. Thaitrade.com will serve as the link of exporters to global e-markets.
During his speech in a seminar titled, “E-commerce Big Bang”, Deputy Prime Minister Somkid Jatusripitak said that the country's economy needs more innovation to add value to products and increase entrepreneurship in all supply chains, then build channels to sell products.
The Thai government has given e-commerce top priority in the 2019 fiscal budget since it plays a significant role in staying competitive in the business world. The goal is to provide local competitors with increased competitiveness.
Small and medium-sized enterprises (SMEs) have more opportunities and wider reach to sell their products, thanks to the availability of e-commerce platforms. Digital economy has altered and improved the business model for SMEs.
Thaitrade.com was converted to the national e-marketplace platform that will give micro SMEs and farmers access to the B2B (business-to-business) and B2C (business-to-consumer) segments of domestic and export markets.
Connection with international e-commerce and domestic platforms is also made possible by Thaitrade.com. It will also serve the country's big data needs.
"The government has at least another eight months of administrating the country, so the Commerce Ministry needs to work towards future development," Mr Somkid said.
He added, "Building Thaitrade.com's brand awareness and trustworthiness will increase trade volume in the global market, while payment and logistics are important factors.”
Moreover, cooperation from the Thai Chamber of Commerce, the Federation of Thai Industries and the Commerce Ministry is needed as they need to seek high-quality and varied products to promote on Thaitrade.com.
Commerce Minister Sontirat Sontijirawong said that with Thaitrade.com, a B2C channel for domestic markets was introduced. Micro SMEs are given the chance to sell their quality goods on the internet.
Other international and domestic platforms are welcome to connect to Thaitrade.com after launching a Thai flagship store in Alibaba. China’s JD.com in China and Africa’s GoSoko are some of the platforms being considered.
The ministry targets to double the trade volume of Thaitrade.com from a present worth of 5 Billion Baht to 10 Billion Baht by next year.
Thaitrade.com was initiated by the Commerce Ministry seven years ago. As of present, the site features more than 200,000 products and received 2.15 million foreign visitors. In 2016, the ministry launched Thaitrade.com Sook, a B2C extension of Thaitrade.com.
There are around 25,000 entrepreneurs who are using the website. To further increase exports, the ministry targets to persuade 100,000 entrepreneurs to participate and use the national e-commerce platform.
According to the United Nations Conference on Trade and Development, global e-commerce trade volume was US$25.3 trillion (808 trillion baht) in 2015.
President of the Federation of Thai SME Association Mr Noppong Teeravorn said that Thai SMEs have 3.01 million entrepreneurs, which makes up 99.7% of the total number of entrepreneurs in the country.
Out of the 3.01 million Thai SMEs entrepreneurs, 600,000 have registered businesses, 100,000 are community enterprises, and more than 2.3 million operate micro SMEs.
Thai SMEs contribute to Thailand’s employment rate as they are able to provide jobs to 11 million people.