With growing economies such as China and India offering mass-produced products at extremely low prices, most importers would opt to outsource their manufacturing to these countries. But if you are looking for just low prices then perhaps you should keep looking because you are missing out on the two other very important aspects – reliability and quality. Here are the top 5 reasons why you should choose Thailand to import or source your products from.
#1. High Quality Products at Competitive Prices
Thailand is very cost-competitive and product quality is generally a lot higher than its neighboring countries. The country is well known for its wide variety of superior quality products such as rice, rubber, food & beverages, seafood and textiles. It has also become competent in exporting hardware products, furniture, handicrafts, gems and jewelry.
In 2008 and its third consecutive year, Thailand was also ranked #1 for ‘value for money’. This can be attributed to the fact that it is rich with high-quality raw materials combined with low labor and manufacturing costs. In addition, most Thai companies and manufacturers follow the International standards such as the ISO, ASTM, CE, and Halal certifications together with human health and global environment concerns, so you can be sure the products won’t lack in good quality.
#2. The Culture and Ease of Business
As a non-Thai resident of over 17 years, I have come to love and understand the Thai people and culture. They are friendly, wonderful and hard-working individuals but their teamwork is even more remarkable. You will find working with them very easy and enjoyable.
If that is not convincing enough, then it might help to know that Thailand was awarded the 3rd “Best Country Brand for Friendly Locals”, 13th in “ease of doing business” worldwide while ranking 3rd in Asia.
In a 2009 report by the World Bank, Thailand was ranked 11th in the world for protecting investors, 10th for trading across borders, and 25th on enforcing contracts.
#3. A Strategic Location with a Strong Business Environment
As the “gateway to Asia”, Thailand offers access to China, India, and the countries of the Association of Southeast Asian Nations (ASEAN). This has allowed the country to have well-developed infrastructure, free enterprise economy, and pro-investment policies, allowing it to experience one of the highest GDP growths.
#4. Intellectual Property
Nowadays Thailand is very concerned about Intellectual Property, despite most beliefs. Business owners can be assured now that products in their hands are completely legal and have no copyrights issues. We at MPN certainly make sure that there are none.
Likewise, if you are an inventor who is looking for a factory that can produce your products with low cost while protecting your intellectual property, Thailand seems to be the best choice for now.
#5. Buying Agents and Sourcing Companies
Like MPN Intertrade, there are dozens of multinational and Thai companies as well as agents that can greatly assist importers. Although most manufacturing and exporting companies do business in English, some may not. Sourcing agents can alleviate issues such as language barriers, trade restrictions and most importantly find the best manufacturer match and negotiate best prices.
Not to mention, this is also improves reliability and quality assurance as these agencies provide professional and expert services.