Page 54 - ELITE PLUS MAGAZINE Vol 3

DIPLOMATIC AFFAIRS |Thailand has a business advantage over other Southeast Asian countries because Thai soap operas, movies andsome entertainers are quite popular in ChinaMany Thai companies that do business in the traditional way, going to China to open shops, factories or distribution channels, do not get a positive response from consumers. “That business practice is the old way. Chinese consumers now learn about products from social media. They hardly shop at department stores. When they want to buy products, they order from Taobao [an online shopping outlet] and have them shipped to their homes.”Some of the best marketing to promote Thai products and culture comes from Chinese tourists who travel to Thailand. Chinese consumers know about Naraya bags, Mama noodles or diet pills (the latest popular product) from tourists who post their impressions of Thailand on Weibo and other social media sites. Thailand has52 Elite+a business advantage over other Southeast Asian countries because Thai soap operas, movies and some entertainers are quite popular in China.Next year will be the 40th year of diplomatic relations between Thailand and the People’s Republic of China, and China has become a major trading partner. Many Thai SMEs and major corporations have invested in China, such as Charoen Pokphand Foods, the energy company Banpu and commercial banks such as Bangkok Bank, Kasikorn Bank and Siam Commercial Bank.At a government level, Beijing signed an MoU with the previous Yingluck Shinawatra government to cooperate on water management projects and high-speed trains. Both projects were delayed following the coup in May but are subject to reviewby the new government.HE Wiboon’s view is that theThai government can pick a collaborative pilot project such as high-speed trains and seek financial assistance from the Asian Infrastruc- ture Investment Bank (AIIB), an international financial body proposed by China. The chosen train line must be a financially viable response to people’s needs, not be a drain on Thailand’s fiscal budget and, above all, the process must be transparent, he said.With a population of 1.3 billion, China is a huge market with many opportunities for investors. Thai producers can potentially tap the demand for organic foods such as organic rice and fruit, HE Wiboon said, since Chinese are willing to pay more for high quality and organic