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Thaitrade.com e-marketplace provides opportunities for local sellers to reach consumers globally

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.