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Agencies Plan New Products For Mideast

News From : DagangHalal.com (08 Apr 2010)

The Export Promotion Department and the National Innovation Agency are co-launching a pilot project to build sales and distribution of three categories of innovative Thai products in the Middle East.

Spa, health food and natural beauty products have strong potential in the Gulf Co-operation Council (GCC) states.

Collaboration between the two agencies will broaden the foreign market for Thailand’s innovative services and products, said NIA director Supachai Lorlowhakarn.

The NIA over the past six years has provided about 8 billion baht to more than 500 companies to assist their development of innovative products.

“But these entrepreneurs have a limited capability to broaden their export markets and the co-operation with the Export Promotion Department could be a solution,” he said.

These three categories would support health tourism, including halal spa treatment. The NIA’s support enables firms to use their technologies as investment collateral and the agency can also provide interest-free loans to good operators.

Srirat Rastapana, director-general of Export Promotion Department, said the department would supply information on market trends to the NIA and firms as well as carrying out promotions.

GCC states have strong purchasing power and are an emerging market where Thai exports totalled US$993 million in the first two months of the year, up 9% from the same period in 2009, she said.

Thai exports to GCC states were $5.52 billion last year, down 8.7% from 2008, according to the Commerce Ministry.

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