Connect with us

World

Phuket Gazette: ASEAN business news

Legacy Phuket Gazette

Published 

 on 

PHUKET MEDIA WATCH

– World news compiled by Gazette editors for Phuket’s international community

U.S. exports to China reach historic US$203.9 billion in 2011
Phuket Gazette / News Wires

PHUKET: The U.S.-China Business Council (USCBC) yesterday released its annual report on U.S. State Exports to China for 2011, showing that it surpassed US200 billion for the first time in history.

The announcement puts China as the third-largest export market for the United States, ranking only behind neighbors Canada and Mexico with whom the United States has a regional free-trade agreement. USCBC Vice President Erin Ennis underlined that exports to China are “vital to America’s economic health and create good jobs for American workers.”

Between 2000 and 2011, total U.S. exports to China rose 542 percent, from US26.2bn in 2000 to a record-breaking US203.9bn in 2011. The figures released yesterday also show that U.S. exports to China recovered faster after the recession than exports to anywhere else in the world.

“Clearly, China is a market that is important to U.S. companies’ bottom lines, even in tough economic times,” Ennis added, stating that from 2000 to 2011, exports increased by nearly US$88bn to China, which exceeded the increase to every other market for U.S. goods and farm products, with the exception of Canada.

“American companies from every corner of the nation are exporting high-value computers, electronics, agricultural products, chemicals, transportation equipment, and machinery to an expanding marketplace in China,” Ennis said.

U.S. exports to Canada rose US202bn over the same period, while US exports to Mexico rose $86 billion. Brazil was a distant fourth with just a US$28bn increase in purchases of U.S. products.

Vietnam pact furthers TCEB’s Asean collaboration strategy
Phuket Gazette / The Nation

PHUKET: The Thailand Convention and Exhibition Bureau’s “Asean MICE Collaboration” strategy took a step forward with the signing of an agreement with the Vietnam Chamber of Commerce and Industry in Hanoi on March 16.

The tie-up is in line with TCEB’s approach to promote the meetings, incentives, conventions and exhibitions industry in the region and ensure that it is ready to become the world’s leader. The VCCI will work closely with TCEB to encourage trade, the MICE business and enterprise development in the two countries for mutual economic benefit.

TCEB president Akapol Sorasuchart said yesterday that Asean members should help one another to prosper from the region’s advancement.

SCB backs MahaNakhon
Siam Commercial Bank has lent Bt5.4 billion to Pace Development Corp for the development of the MahaNakhon, a luxury project, Arthid Nanthawithaya, a senior executive vice president of the bank, said yesterday.

When the mixed-use project in Sathon district is completed next year, it would be worth 19 billion baht.

Green tea promotion
Tipco F&B plans to slash the price of its Mirai ready-to-drink green tea from 20 to 15 baht as part of its two-month summer promotion running from April to May.

The move is aimed at increasing Mirai sales by 30 per cent this year, which is more than the 20 per cent expected for the overall 8-billion baht green-tea market.

MFG.com creates global portal for Thai and ASEAN manufacturers
Phuket Gazette/ The Nation

PHUKET: MFG.com, the largest global sourcing marketplace for the manufacturing industry expanding its global buying and selling pathways to now include Thai manufacturers.

“Thailand is known around the world for its high quality suppliers of automotive components. Those companies are very good at exporting,” said Mitch Free, CEO and Founder of MFG.com. “But there are a lot of world class manufacturers outside the auto parts industry in Thailand that have not previously had access to exporting opportunities. As buyers in the west look to find great quality at a good price they keep telling us that they want greater access to suppliers in Thailand. MFG.com is excited to be building a bridge between the suppliers in Thailand and the buyers in the west. We think this is a “win” for everyone.”

Free also noted, because of Thailand’s strong manufacturing base, the ASEAN Economic Community (AEC), which comes into fruition in 2015 will benefit as MFG.com will open global sourcing and selling opportunities to all nations of the 10 member ASEAN community which consists of half a billion people, GDP in excess of US$1.5 trillion and a total trading base of more than US$1 trillion per year.

MFG.com’s on-demand service is consolidating the once- fragmented world of manufacturing into an efficient marketplace, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels. For more information, please visit www.MFG.com.

Thailand is very important player within the global manufacturing industry and is famous for making automobiles and machine parts. MFG.com is a good platform showcasing Thailand manufacturers to the world.

MFG.com, the largest global sourcing marketplace for the manufacturing industry, launched Asia Supplier Discovery Tour recently with a plan to locate Asean suppliers from Thailand, Vietnam, India, Malaysia, Taiwan and Hong Kong.

Mitch Free himself is a dynamic captain of global industry, recognized among his peers for his insatiable curiosity, strategic vision, domain expertise and creative management style. INC. magazine named him an “Entrepreneur of the Year” finalist in 2005, he was an Ernst & Young Entrepreneur of Year regional winner in 2008 and under his leadership
MFG.com has been consistently ranked as one of the top technology growth companies in the United States. Mitch is an avid speaker at technology forums and conferences, including presentations to the Kellogg School of Business at Northwestern University, Harvard Business School, Wharton and the Society of Manufacturing Engineers.

— Phuket Gazette Editors

 

Want more Thailand news from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📝️ Join the conversation on Thaiger Talk - discuss news & life in our Thailand forums
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Protests3 mins ago

Gathering for 89th anniversary of constitutional monarchy

Crime22 mins ago

Police arrest suspect who allegedly killed Covid patient and 7-Eleven clerk

Coronavirus (Covid-19)57 mins ago

Multiple Bangkok hospitals stop Covid testing, citing fear of insufficient beds

Phuket Sandbox July 1st

days
hours
minutes
seconds

Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Pattaya1 hour ago

Chon Buri governor says Pattaya bars will stay closed for now, Covid cases remain high

Crime2 hours ago

15 year old stabbed at private school

Thailand2 hours ago

UPDATE: Police identify alleged gunman who opened fire at field hospital, killing a patient

Thailand3 hours ago

PM orders investigation into pricey street lamps

Best of3 hours ago

Top 5 Thai Restaurants in Bangkok

Phuket4 hours ago

Phuket governor outlines plans to track and trace foreign arrivals

Coronavirus (Covid-19)4 hours ago

Thursday Covid Update: Latest wave exceeds 200,000 cases

Thailand4 hours ago

Guitarist from “Playground” dies in road incident

Coronavirus (Covid-19)4 hours ago

First delivery of Sinopharm vaccines approved for distribution

Thailand4 hours ago

Good Morning Thailand | Thai Immigration – Are you legal? Latest Covid and Phuket sandbox

Phuket4 hours ago

Flight traffic to Phuket expected to increase by 6% next month

Tourism5 hours ago

Hotel platform predicts increasing demand for holidays in Thailand

Thailand4 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism4 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket4 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand6 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending