The Bank for Agriculture and Agricultural Cooperatives (BAAC) is in discussions with a prominent Chinese technology firm to establish a joint venture. The focus of this venture is to create an e-commerce platform to streamline the sale of agricultural commodities to China, as revealed by Chatchai Sirilai, the bank’s president.
In this joint venture, the BAAC will not be considered a state enterprise. Instead, the BAAC and the Chinese tech firm will hold 49% and 51% stakes respectively. The proposal is anticipated to be brought up for board consideration in the first quarter of the current year.
The main goal of this venture is to broaden the market for Thai agricultural products and establish a fair profit-sharing system for farmers and vendors. Previously, the BAAC collaborated with Thailand Post to sell agricultural products within the country…
