The National Innovation Agency (Public Organization) (NIA), under the Ministry of Higher Education, Science, Research and Innovation (MHESI), collaborates with the Thai-Chinese Culture and Economy Association (TCCEA) to strengthen innovation and business relations between Thailand and the People’s Republic of China. This is achieved through the integration of innovation networks, startups, entrepreneurs, and business owners, linking with Chinese partners through ‘The Dragon’ programme. Designed to deepen Thai entrepreneurs’ understanding of Chinese business practices and culture, this initiative aims to foster enduring relationships and promote mutual innovation between the two nations, ultimately driving sustainable business ecosystems and generating numerous benefits for both countries in the future.
Dr Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organisation), stated that despite the various challenges facing the Chinese economy, the GDP growth rate for the year 2023 expanded by 5.2%, in line with the government’s target of 5%. This instils confidence globally in China’s growth prospects, driven by factors such as domestic economic dependency, exports, technological development, research, and innovation. Additionally, China’s status as the world’s second-largest economy after the United States, along with its position as the number-one purchasing power, underscores its significance as a major market for exports, including those from Thailand.
“According to the results of the Global Innovation Index (GII) 2023, which ranks the People’s Republic of China at 12th out of 132 countries worldwide, China’s innovation output ranks 8th, and innovation input ranks 25th globally. It is also classified as a leading cluster in the field of science and technology. There is a significant amount of investment and scientists in the country, along with science parks and innovation hubs that contribute to the country’s economic growth. Moreover, in the past year, China has announced goals to become a global innovation leader and drive consumption through high-tech innovations, including increasing research and skilled personnel to elevate new industries. These clear advantages present opportunities for Thailand to introduce consumer-demanded innovations in China, as well as to learn essential skills as a leading innovator in the global innovation landscape.”
Dr Krithpaka further commented that NIA recognises the importance and opportunities in establishing innovation partnerships with China. Therefore, it has joined forces with the Thai-Chinese Culture and Economy Association, a network of innovators, startups, and entrepreneurs, to connect with Chinese counterparts through ‘The Dragon’ programme. This initiative aims to promote innovation businesses between Thailand and China, focusing on fostering international trade and promoting national-level innovation. Additionally, it helps Thai innovation business owners to immerse themselves in the Chinese business culture, building sustainable relationships that can drive their businesses forward. It creates a network of leading Thai-Chinese innovation business figures and fosters mutually beneficial cooperation for both countries in the future. Furthermore, it facilitates understanding of market data, competitors, and customers in China, provides guidance on local partnerships, Chinese laws, and helps identify opportunities for innovative businesses seeking growth abroad.
“While China may have policies towards self-sufficiency in terms of technology, the analysis of ongoing opportunities for Thai products to continue exporting or marketing in China lies in several categories. These include agricultural and processed agricultural products, ready-to-eat foods, health and beauty products, and OTOP goods. These are items that China still cannot produce sufficiently. However, these products should undergo product and packaging design tailored to the varying consumer behaviours of the Chinese population in different regions. Additionally, they should utilise innovation to avoid imitation and adapt to a competitive market driven by technology and creative thinking. In terms of high-level innovative products with market potential in China, they include innovations that are part of the high-end industrial production chain, such as the electrical and electronic appliance industry, computer components, integrated circuits used in automobiles, and the production of tyres for electric vehicles.”
Assoc Prof Dr Bhokin Bhalakula, President of Thai-Chinese Culture and Economy Association (TCCEA), stated that the association aims to develop the relationship between Thailand and China through continuous creative activities since its establishment in 1993. It is guided by a vision that emphasises cooperation for regional peace and stability, as well as promoting high-level relations. It serves as a bridge for cultural exchange and economic diplomacy because success in doing business with China cannot be achieved merely through superficial market penetration but requires genuine cultural understanding and trust-building.
“The support from NIA is considered a vital stake in promoting national-level innovation development. It is an introduction to a new level of Thai-Chinese relations through the programme ‘The Dragon’, which is designed not only to emphasise networking but also to facilitate trade and investment experiences in China for Thai businessmen. It fosters deeper cultural understanding and relationship building, following China’s model that prioritises family ties and friendship over trade.”
For The Dragon programme, there are seasoned experts from both the public and private sectors with renowned experience in doing business with China, such as Mr Narongsak Phutthapornmongkol, Mr Phinij Jarusombat, and Mr Wichai Kinchong Choi, who will impart knowledge and understanding of the economic and cultural landscape of China in various business contexts. There are also speakers from NIA who will discuss cross-border innovation and the fundamentals of IBE innovation-based business concepts, enabling trainees to apply them in developing innovative businesses with Chinese counterparts. Additionally, there is a study visit to renowned companies in Chengdu and Shenzhen, People’s Republic of China. Interested individuals can apply from today until 9 June 2024. For more information and registration, visit www.dragondialogue.space or contact Ms Sirinuch (Pop) at 086-397-3158 or email info@dragondialogue.space.
Comments
