Major Thai holding company to set up trading unit in Dubai

The announcement comes on the eve of IEC's participation in the forthcoming Thailand exhibition - a three day event promoting trade and business between Thailand and the UAE.

Thai Trade Centre Dubai, representing the Royal Thai Government, confirmed the participation of IEC and its new Dubai unit Intertrade Asia, at the Thailand exhibition which will be held in Dubai from September 10 to 13. According to Mr. Pilun Bhanich Supapol, Executive Director of Thai Trade Centre, IEC represents a significant percentage of the total exhibition space, and has already evicted great interest from local players. "We have 200 confirmed exhibitors this year, and although IEC is listed as a single participator, the space allocated to them equals one-fifth of the total exhibition space. What this signifies is the grand size and scale, and the sheer diversity of IEC's representation, and their keen interest in Dubai," he pointed out.

Meanwhile, IEC, through its dedicated business unit, Intertrade Asia has announced a strong and ongoing presence in Dubai, in the weeks following the exhibition. Mr. Somsak Yamasmit, Vice Chairman of IEC and President of Intertrade Asia, confirmed that Intertrade Asia would commence operations in Dubai within the next couple of months.

"We are currently finalising the location of our showroom and warehouse, and recruiting a minimum of 20 staff for our Dubai office, and will announce them as soon as they are finalised. As of now, our intention is to generate business to the tune of US$1 billion dollars. We also look forward to getting the company listed on the regional stock exchanges, as part of our long-term commitment," he announced.

He stated that Intertrade Asia would focus primarily on construction material, interior decoration, white goods, and food stuffs, with highlights including steel, ceramics, carpets, furniture and furbishing, and air conditioners (all of which Thailand is internationally renowned for). Further, Intertrade Asia aims to address the needs of local manufacturers and entrepreneurs, and offer vital support in developing home-grown, 'Made in the UAE' brands.

Mr. Yamasmit attributed the size and strength of IEC's proposed operations in Dubai to the dramatic increase in trade between Thailand and the UAE in recent years, and similar growth patterns. "While we are impressed with the growth that Dubai is witnessing, it is greatly reminiscent of Thailand in the 1980s, when the Thai government embarked on similar expansion plans. We have experienced great growth ourselves, and we are keen to share and build on our experience and expertise. Meeting our counterparts in Dubai at the Thailand exhibition will be a good starting point," he said.