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ASEAN Fastener Markets have Great Potential—Automotive Manufacturing Thailand Report 2
The number of visitors gradually increased on June 24-25. According to the organizer, there were 36,951 visitors in total during the first three days. The booth of China Fastener Info (CFI) attracted lots of visitors from Southeast Asia, Europe and US for CFD magazines. Some visitors even came to CFI’s booth for CFDs with invitation email sent by us.
It was worth mentioning that Mr. Rakesh Shah, leader of the Indian delegation INDEE and the former chairman of EEPC India, signed a memorandum with Mr. Chanatip Surachaisitikul, chairman of Thai Subcontracting Promotion Association on June 24. The memorandum mentioned that Thai subcontractors would visit Bombay in March, 2012. The Thai side noted that the memorandum on the one hand will help Thai manufacturers reduce cost and improve quality on some special fields, and on the other hand it will help know more about the Indian industry and culture which can increase sales of goods exported to India so as to achieve the goal of learning from each other and the strategy of advantage complementary. The Indian side also remarked the memorandum can be helpful for Indian industry manufacturers and related service sectors to better learn from Thai professions.
Automotive summit mainly about the topic of “Challenges and Opportunities from Recovery of Japan Automotive Industry” was concurrently held on June 23 with over 200 international delegations present. The summit mainly discussed what measures to take before the ASEAN Economic Community (AEC) is established and the related latest news. The Japanese side in the conference also expressed its plan to improve the output of automobiles in Thailand to the pre-tsunami levels and Japanese auto part manufacturers will invest more in the production of parts which hasn’t been produced before by local producers. These can be seen that Thai auto part market has great potential.
After talks with Southeast Asian visitors, we found that more and more buyers from Europe and US came to Thailand because of its enrich labor resource and endowed exporting ports. What’s more, some Chinese manufacturers?are setting up plants in Thailand due to the anti-dumping imposed by EU on China.
We get to know that the ASEAN market has great potential after attending the show. On top of the traditional European and American markets, China Fastener Info will continue to expand the emerging markets in the coming months. We will attend the Wire/Tube Southeast ASIA to be held on Sep. 13-15 and METALEX Vietnam scheduled for Oct 6-8, please pay close attention to our coming reports.
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