GM Facilitates Thai-Korean Bilateral Trade

- GM the Thai ‘ambassador’ to bilateral trade with Thailand - GM Thai Korea Autoparts Plaza is the first such event organized with other countries - ASEAN projected to be fifth largest economy in the world by 2050 General Motors, in association with the Korean Trade and Investment Promotion Agency ‘s(KOTRA) Thai office, the Korean Business Centre, Bangkok (KBC) recently organized the ‘GM Thai Korea Autoparts Plaza 2011’ as a platform to promote bilateral trade between Thai and Korean automotive parts manufacturers. Supported by Thailand’s Board of Investment’s (BOI) Unit on Industrial Linkage Development or BUILD, GM acted as Thailand’s ‘country ambassador’ with the aim to encourage expansion of Korean parts manufacturer into the Thai auto industry, while promoting exchange of ideas and technology between manufacturers from both countries. Speaking during his keynote address, Mr. Martin Apfel, President of GM Thailand/Southeast Asia and Chevrolet Sales Thailand said, “GM, through its brand Chevrolet, has enjoyed tremendous growth in the region, based on the strength of its products, especially since the launch of the Chevrolet Cruze last year.” “But the strength of our products is also based on the strength of our suppliers – the auto parts manufacturers. No parts, no car,” he continued. “According to McKinsey and Company’s projections, ASEAN will be the fifth largest economy in the world by 2050. Meanwhile, HSBC and the World Bank projected that the ASEAN-Big-3 are all expected to be in the Top 30 economies by 2050. Thailand moved into the Top 30 in 2010 while Malaysia is expected to move the up the most in the next 40 years.” Mr. Apfel said. Since Thailand is the leading automotive market in the region, the projected growth in ASEAN naturally places Thailand as the most viable location for auto parts manufacturers to be based. It also opens up localization opportunities for the many original part manufacturers (OEM) located in Thailand, including GM. “There is great opportunity and I invite our Korean friends to join their Thai partners in seizing this opportunity,” Mr. Apfel continued. “We are starting with Korea and we will explore options with other countries should such opportunities arise in the future.” he concluded. The GTKA Plaza aimed to stimulate dialogues and investments and partnership opportunities for both Korean and Thai manufacturers in Thailand, while strengthening relationships between the Thai and Korean supplier community. It will also stimulate export opportunities for Thai SMEs while presenting opportunities for mutual idea and technology transfer. More than 30 Korean auto parts manufacturers took part in the GTKA Plaza 2011, some of which were leading suppliers for GM. A total of more than 200 Thai auto parts manufacturers visited the GTKA. Photo Caption: Mr. Cho Hwan Eik, President of Korean Trade and Investment Promotion Agency (KOTRA) (center), Dr. Atchaka Sribunruang, Thailand Board of Investement’s Secretary General (far left) and Mr. Martin Apfel, President of General Motors Thailand (second from right) attending the opening ceremony of “GM Thai Korea Autoparts Plaza 2011” or GTKA Plaza. GM as the ‘ambassador’ to the Thai market has associated with KOTRA to organise the event supported by BOI to provide a platform promoting bilateral trade between Thai and Korean automotive parts manufacturers. GM will explore further avenues to facilitate international cooperations in the automotive industry. สามารถคลิกดูภาพประกอบได้ที่ www.thaipr.net

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