(MENAFN- EIN Presswire)
International Live Commerce 2024 will Connect Thai SMEs with China's e-commerce Powerhouses
LOS ANGELES, CA, UNITED STATES, September 17, 2024 /EINPresswire / -- The
Ministry of Commerce of Thailand is excited to announce that Thailand is strategically positioning its small and medium-sized enterprises (SMEs) to tap into China's thriving live commerce sector. With China's live shopping
market growing rapidly-valued at nearly five trillion yuan in 2023 and projected to reach 430 million users by 2026-the Ministry is taking proactive measures to help Thai businesses capitalize on this lucrative opportunity.
Recent Minister of Commerce, Pichai Naripthaphan, is continuing the strategic vision set forth by Phumtham Wechayachai, Deputy Prime Minister and Minister of Defence, who formerly served as Minister of Commerce. In the wake of his nomination, Pichai has prioritized aligning his agenda with the government's pressing objective of supporting Thai SMEs. The effort comes at a critical juncture, as the International Live Commerce Expo, the government's initiative, is set to play a role in strengthening the infrastructure needed for Thai SMEs to successfully export to China via digital platforms. This reflects the government's steadfast commitment to fostering an export environment for Thailand's entrepreneurs.
As part of these efforts, the Department of International Trade Promotion (DITP) signed a significant Memorandum of Understanding (MOU) on May 29, 2024, with Beijing Zhongsri Runpeng Culture Media Technology Co., Ltd., a leader in China's live commerce industry. This collaboration aims to promote Thai products across major Chinese e-commerce platforms such as Douyin, T-Mall Global, and Kuaishou. At the signing ceremony, Phumtham and Zhou Jiang, Chairman of Zhongsri Runpeng, discussed strategies to elevate Thai goods by utilizing Chinese key opinion leaders (KOLs) to showcase more than 100 premium Thai products.
In August 2024, the Ministry of Commerce launched a nationwide campaign urging Thai businesses to register their products for potential promotion in China's vast e-commerce landscape. More than 1,000 Thai SMEs participated, with the DITP working closely with logistics partners and financial institutions to streamline processes for businesses selected to work with Chinese KOLs. Additionally, Thai companies that were not chosen in this round will have more opportunities in upcoming promotional campaigns.
The centerpiece of these efforts is the "Thailand Pavilion," a new digital platform designed to act as a global showcase for Thai goods, making it easier for international consumers to discover and purchase authentic Thai products. This platform will serve as a continuous opportunity for Thai SMEs to reach Chinese buyers and participate in the fast-growing live commerce industry.
In further support of this initiative, the DITP is organizing the International Live Commerce 2024 event, which will take place from Sept. 25-29 at Samyan Mitrtown, Bangkok. The event will feature more than 30 Chinese KOLs hosting live-streaming sessions that will highlight Thai products to a broad Chinese audience. The five-day event will also include a conference where 30 industry experts will discuss key issues in e-commerce, such as payment solutions, technology trends, and international business development. Thai SMEs will gain valuable insights into how to navigate the complexities of international trade, ensuring their continued growth and success.
For more details about the International Live Commerce 2024 event, visit , or follow the Ministry of Commerce and the Department of International Trade Promotion on social media.
About the Ministry of Commerce, Thailand
The Ministry of Commerce of Thailand is dedicated to supporting and promoting Thai businesses in both domestic and global markets. The Ministry is responsible for creating trade policies, promoting exports, and helping Thai SMEs expand internationally by providing them with the resources and infrastructure necessary to succeed in the competitive global marketplace.
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