ID :
189457
Sat, 06/18/2011 - 14:44
Auther :
Shortlink :
http://m.oananews.org//node/189457
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Thai SMEs backed to invest in huge Indonesian market
BANGKOK, June 18 (TNA) - Thailand's Office of Small and Medium Enterprises Promotion and the National Food Institute have expressed their support for local SMEs to expand their businesses into the huge Indonesian market.
The two Thai agencies pointed out that Indonesia, the world's largest archipelagic nation, has provided lucrative market opportunities for Thai SMEs, as a group of high income people alone, accounting for some 10 per cent of Indonesia's total population of 245 million, or 24.5 million, has opted to consume food and other products with reliable brands. This should become a promising market opportunity for Thai exporters of organic, healthy and even Halal food products, including the local SMEs.
The two Thai agencies acknowledged that the Indonesian food market has been growing remarkably, and that import tariffs in Indonesia for 23 items of agricultural products have been cut to zero per cent since January 1, 2010, thanks to a regional agreement paving the way for the formation of the ASEAN Economic Community (AEC), which has enhanced competitiveness of business operators in the region, including those in Thailand.
According to the two agencies, Indonesia's food consumption should total 68.87 billion US dollars this year and is likely to soar to 110.61 billion US dollars by 2015, some 58.3 per cent expansion then.
Last year, Thailand's exports of agro-food products to Indonesia reached 484.58 tonnes worth 12.24 billion baht totally; while the country's imports of agro-food products from Indonesia remained as high as 2,020.40 tonnes, totally worth 32.73 billion baht, with major Thai agro-food exports to Indonesia including sugar, rice, tapioca flour, baby onion, fresh longan, and ground fish. (TNA)
The two Thai agencies pointed out that Indonesia, the world's largest archipelagic nation, has provided lucrative market opportunities for Thai SMEs, as a group of high income people alone, accounting for some 10 per cent of Indonesia's total population of 245 million, or 24.5 million, has opted to consume food and other products with reliable brands. This should become a promising market opportunity for Thai exporters of organic, healthy and even Halal food products, including the local SMEs.
The two Thai agencies acknowledged that the Indonesian food market has been growing remarkably, and that import tariffs in Indonesia for 23 items of agricultural products have been cut to zero per cent since January 1, 2010, thanks to a regional agreement paving the way for the formation of the ASEAN Economic Community (AEC), which has enhanced competitiveness of business operators in the region, including those in Thailand.
According to the two agencies, Indonesia's food consumption should total 68.87 billion US dollars this year and is likely to soar to 110.61 billion US dollars by 2015, some 58.3 per cent expansion then.
Last year, Thailand's exports of agro-food products to Indonesia reached 484.58 tonnes worth 12.24 billion baht totally; while the country's imports of agro-food products from Indonesia remained as high as 2,020.40 tonnes, totally worth 32.73 billion baht, with major Thai agro-food exports to Indonesia including sugar, rice, tapioca flour, baby onion, fresh longan, and ground fish. (TNA)
