Department of International Trade Promotion Drives New Strategies to Elevate Thailand’s Path to the Global Market

2024-10-01 10:23:40 Business

117

For over seven decades, the Department of International Trade Promotion (DITP) under the Ministry of Commerce has been at the forefront of organizational development, adapting to various global crises and technological advancements. The DITP has been instrumental in driving strategic shifts, fostering a proactive and adaptive approach, and leveraging emerging technologies to empower businesses of all sizes. By promoting brand value and fostering a forward-thinking mindset, the DITP has been a catalyst for sustainable business growth and a vital bridge connecting Thai enterprises to global markets.

From Industry Economy to Value Economy: DITP's Strategic Shift
The Department of International Trade Promotion (DITP) has embarked on a significant transformation, shifting its focus from a traditional industry economy to a value-driven economy. This strategic shift is in line with global trends that emphasize brand value and consumer experiences.

Mr. Phusit Ratanakul Sereroengrit, Director General, Department of International Trade Promotion (DITP), shared his insights on future trends through a "Global Market Foresight" approach. This initiative is aimed at propelling Thai businesses into international markets and enhancing their global presence.

“The changes in DITP’s strategy and image are designed to reflect our adaptation to the rapidly evolving global landscape. The world is moving fast, and we must keep pace in presenting the value of our brand to all business sectors. This will enable them to envision expanding Thai brands into the global market. We provide knowledge on the latest global market trends, which have been analyzed using data collected from our 58 international trade promotion offices worldwide. This information, along with insights into global trade channels, helps us forecast potential market shifts. As a result, Thai entrepreneurs receive valuable data that facilitates their successful entry into foreign markets. Our goal is to enhance the competitiveness of Thai businesses by increasing their knowledge, predicting trends in foreign markets, and ensuring they are well-prepared to develop and thrive on the global stage.”

Highlight Strengths and Build Brand Value with the 3 E Strategy
Another key aspect is creating brand value through the 3 E strategy, which includes:

EXPAND: Pioneering and entering new international markets, assisting Thai entrepreneurs by building relationships based on the capabilities of each office, along with assessing product demand and trade channels in foreign markets. This helps increase the opportunities for global market growth.

ENABLER: Breaking the boundaries of entrepreneurial potential through strategic knowledge, in-depth market insights, and supportive data. This drives the dreams of Thai entrepreneurs to successfully enter international markets.

EMPOWER: Cultivating a broad vision, empowering and encouraging Thai entrepreneurs by providing guidance and offering a clear vision of success at every step. This helps brands develop the mindset and strategies needed for global competition, aiming for sustainable success and growth.

Establishing a Clear Brand Identity

A key driving force behind DITP's transformation is the implementation of internal communication activities (Internal Launch) to raise awareness within the organization, paving the way for a new era and elevating the organization to a global level. This initiative is led by the Director-General, Phusit Ratanakul Sereroengrit, who shared an overview of DITP's transformation in a talk titled "Why DITP Transformation," aimed at communicating the organization's new strategy to the public and sharing the keys to success with various departments in unison.

The strength of this initiative is further reinforced by contributions from a team of executives, including Mr. Julakiat Sinchaichuekiat, CEO & Founder of BARAMIZI GROUP, a brand strategy consultant, Mr. Krisana Thanathanit, Managing Director of GA49 Co., Ltd., an expert in identity design systems, and Dr. Korakot Aromdee, a world-renowned artist and designer of contemporary handicrafts.

Today, DITP is ready to embrace every new dimension, with a core focus on creating brand value. This unique identity reflects who we are, highlighting our distinct positioning and providing a clear direction for the future. This will enable all groups of entrepreneurs to move forward with strength, break through limitations, and position Thai brands in the global market sustainably, creating new possibilities.