Bangkok: Thailand closes deal to export sugar to the Philippines worth over a billion, moving forward to expand to new markets, fully supporting Thai entrepreneurs.
According to Thai News Agency, Ms. Sasikarn Wattanachan, Deputy Government Spokesperson, revealed that the Department of International Trade Promotion (DITP), Ministry of Commerce, is moving forward to find new export markets for Thai entrepreneurs by organizing trade negotiations with Philippine importers. There were trade negotiations between 5 sugar and processed sugar exporters and 8 Philippine importers, resulting in 32 business negotiations, with a total trading value of 33 million US dollars or approximately 1,127.61 million baht.
This activity is a collaboration between the Department of International Trade Promotion, the Department of Foreign Trade, and the Thai Sugar Industry Association to alleviate the problems of sugar and processed sugar exporters who are currently affected by exports. It also seeks additional export channels and provides opportunities for Thai entrepreneurs to expand their business networks in the Philippine market.
In addition, the Thai entrepreneurs discussed with the executives and CEO of the Sugar Regulatory Administration (SRA), the agency that regulates the sugar industry and related products in the Philippines, about the regulations and measures for importing processed sugar, syrup, and premixed sugar, and creating trade opportunities for Thai entrepreneurs to better understand the regulations and measures.
In 2024, Thailand exported sugar products other than sugar from sugarcane or sugar beet to the Philippine market with a value of 14.23 million US dollars or approximately 486.24 million baht, an increase of 48.99%, reflecting the potential of Thai products in the international market. For entrepreneurs or those interested in more information about exports, you can contact the Department of International Trade Promotion (DITP), Ministry of Commerce, or the website www.ditp.go.th or the International Trade Hotline, call 1169.
'The government would like to reaffirm its commitment to strengthening the country's economic potential for stable and sustainable growth under policies that systematically promote trade, investment, and market expansion to the international level for the greatest benefit of all Thai people in all sectors,' Ms. Sasikarn reiterated.