Thai government to help SMEs expand markets

BANGKOK, August 13 (TNA) - The Thai Ministry of Commerce’s Department of Business Development has signed memoranda of understanding (MOUs) with nine firms, aimed at promoting and boosting e-commerce businesses of local small and medium-sized enterprises (SMEs). Thai Deputy Commerce Minister Siriwat Kajornprasart confirmed on Monday that the MOUs were recently signed with the nine government and private-run firms, including Krung Thai Bank, Kasikorn Bank and the National Science and Technology Development Agency (NSTDA). Siriwat said the deals will assist local SMEs in expanding their markets, increasing added values for their products and reducing their production costs. Currently, Siriwat acknowledged, money circulated among the e-commerce businesses in Thailand has totaled over one trillion baht yearly and, given the government's support, it should further grow by 10-15 per cent annually. In a bid to create confidence among local consumers, Siriwat told journalists his ministry's Department of Business Development has issued the "DBD Registered" trademark, which guarantees that the owners of the particular websites are legally registered with the department, and has also issued the "DBD Verified" symbol to local online business operators, guaranteeing that their products meet international standards. According to the deputy commerce minister, 10,158 Thailand-based business websites have received the official "DBD Registered" trademark and 156 websites have obtained the ‘DBD Verified’ symbol, making worldwide buyers to gain more confidence in their quality products, which also meet the required international standards. (TNA)