PUBLISHED : 17 Oct 2023 at 04:00
Thailand is poised to explore opportunities in the Romanian market, with the aim of leveraging the southeastern European country as another gateway to the European Union (EU).
According to Nalinee Taveesin, the recently appointed Thai trade representative, Thailand has the potential to open new markets in Romania, which could subsequently be linked to the EU. A key objective of the government’s policy is to seek out new markets, she said.
“A delegation of Romanian business leaders from various sectors showed interest in trade and investment with Thailand during their visit here from Oct 8-12,” said Mrs Nalinee.
“During their visit, I had the opportunity to meet the leaders and talk with Issara Sereewatthanawut, president of the Romanian-Thai Chamber of Commerce, Jak Chamikorn, a co-founder of the chamber, and Thai entrepreneurs who highlighted good opportunities for economic cooperation between the two countries.”
She said Romania specialises in science, information technology and medical equipment. The country has industrial cities manufacturing products that meet the “Made in the EU” standard, which is widely recognised worldwide.
Romania also promotes young entrepreneurs who leverage technology to develop smart homes, improving the quality of life for its citizens, said Mrs Nalinee.
She said she extended an invitation to Romanian entrepreneurs to invest in the government’s flagship Eastern Economic Corridor (EEC) project, which offers various benefits for investment.
This garnered significant interest from the Romanian delegation as it aligns with Romania’s objectives to expand trade and investment into the Asian market, said Mrs Nalinee.
In 2022, the trade value between Thailand and Romania tallied US$368 million, with Thailand enjoying a trade surplus of $133 million.
Thailand’s major exports to Romania include TV and radio signal antennae, rubber, printed circuit boards, rubber products, and inflatable tyres for vehicles.
Romanian investments in Thailand amount to 7 million baht, while there is no available data on Thai investments in Romania, which is why Thailand should explore economic and investment opportunities, she said.
“These entrepreneurs are the first group from Romania to visit Thailand since the establishment of the Romania-Thailand Chamber of Commerce in 2020. Most of them are young entrepreneurs who are aligned with Romania’s potential and are interested in investing in Thailand to create additional business value,” said Mrs Nalinee.
“They also aim to exchange knowledge about Thai society and culture. In addition, the chamber invited Thai entrepreneurs to visit Romania to further explore future trade and investment opportunities.”
