eBay joins local drive to aid SMEs
PYPL | Quote | Chart | News | PowerRating -- eBay, the world's largest online marketplace, has formed a partnership with Thailand's Department of Industrial Promotion (DIP) to help Thai small and medium-sized enterprises access the global market through e-commerce.
Under the memorandum of understanding signed on Wednesday, eBay will waive insertion fees for the first 100 products from Thai SMEs listed on the marketplace. Fees will also be discounted by up to 25 percent for the first 100 payments via the eBay affiliate PayPal.
Under the programme designed by eBay, Thai SMEs will be able to reach more than 86 million eBay users in 39 markets worldwide.
The agreement could further promote e-commerce in Thailand by giving SMEs access to new markets, increasing their customer base and potential sales, said Oliver Hua, chief operating officer of eBay Greater China and Southeast Asia.
"Businesses of all sizes are facing new challenges in a rapidly changing economy. However, eBay remains very optimistic about the prospects of e-commerce, particularly in Thailand," he said.
With 13.5 million internet users in the kingdom, and an online trade valued at US$1 billion, Thailand has strong growth potential in e-commerce. Last year, the value of transactions by Thai eBay users rose more than 22 percent.
According to Mr Hua, gemstones and jewellery are likely to be among the most popular Thai items for trading.
The global demand for precious stones continues to rise, he said. The Thai Gem and Jewelry Traders Association estimates that the value of Thailand's gems and jewellery climbed 46.4 percent from January to November last year.
DIP director-general Pramode Vidtayasuk said the collaboration would help promote Thai gemstones, jewellery, fashion items and handicrafts in the global market during the downturn.
"Given increasing global competition and economic challenges, it is increasingly necessary to find more creative and cost-effective ways to market and export our products overseas," he said.
Under their public-private partnership, eBay and the DIP will conduct joint marketing, promotional and educational activities including seminars, workshops and in-depth consultation sessions over the coming year.
eBay has a 14 percent share of the global e-commerce market, and hosted transactions worth $60 billion last year.
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