Thai SMEs prepared for AEC

BANGKOK, February 7 (TNA) - The Ministry of Commerce is promoting Thai small and medium-sized enterprises (SMEs) to expand their businesses to neighbouring markets, as part of Thailand's preparations for the formation of the ASEAN Economic Community (AEC) by 2015. Thai Deputy Commerce Minister Siriwat Kajornprasart said that his ministry is promoting the expanding Thai SMEs businesses to the neighbouring countries in the Association of Southeast Asian Nations (ASEAN) through growing border trade. Siriwat acknowledged that the Ministry of Commerce has targeted to increase border trade between Thailand and neighbouring markets in the 10-member ASEAN bloc to about one trillion baht this year, from some 900 billion baht last year. According to the deputy commerce minister, his ministry has also targeted that the number of new business registrations in Thailand will total 60,000 in 2012, a 10-per cent year-on-year increase, after impacts from a worst flooding crisis in the country late last year resulted in a 43 per cent year-on-year increase, or 3,150 waivers, of local business registrations in 2011. (TNA)