As the MEDC and its partners at Automation Alley plan the upcoming trade mission to Bangkok, Thailand and Ho Chi Minh City, Vietnam on May 12-20, 2023, I wanted to let you know what opportunities await your business in these lucrative markets.
Why Thailand?
- With a 2021 GDP of $506 billion and a population of 70 million, Thailand is the second-largest economy in Southeast Asia.
- Thailand is the center of the region’s automotive industry and the world’s largest automotive producer, so suppliers at any phase of the automotive supply chain have a high degree of opportunity.
- In addition to the automotive sector, the nation has a diversified industrial base that includes electronics, machinery and equipment, and agriculture.
- Thailand’s free market is well integrated into the global economy having 14 preferential trade agreements with 18 countries worldwide.
- Thailand’s largest trade partner is the United States so Michigan exporters can tap into this existing partnership to more easily make a name for themselves.
Why Vietnam?
- Since 2000, Vietnam’s GDP has grown faster than any country except China, averaging 6.2 percent annual growth.
- Population of 100 million includes a growing middle class of consumers with strong demand for U.S. goods and services.
- Signatory to 12 free-trade agreements (including the EU) provides the nation with access to numerous markets around the world.
Participants will receive their own customized schedule of B2B matchmaking meetings with potential distributors, agents, and/or buyers vetted for your company’s objectives. Participation also includes embassy business briefings and receptions, interpreters, five-star hotel accommodations, in-country transportation, and inter-country flights.
Qualified companies may be eligible for up to 75 percent reimbursement for the $5,500 participation fee ($4,500 for Automation Alley members) and international airfare through MI-STEP.
The deadline to register is March 24 but participation is limited to just ten companies. Let us get started on your B2B arrangements now – sign up today! If you have any questions, please contact Weiwei LuInternational Trade ManagerMichigan Economic Development Corporation616.540.4964 | luw@michigan.org
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