Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Dr. Thaweelap Rittapirom, Director and President of Islamic Bank of Thailand (ibank), signed a memorandum of understanding for the collaborative project “Promoting and Supporting Halal Product Exporters,” aimed at supporting Thai SMEs in developing Halal food products to meet international standards and facilitating their access to global markets, particularly in New Frontier markets and through global E-Commerce platforms at EXIM Thailand’s Head Office on July 24, 2023. Apart from signing the MOU, EXIM Thailand and ibank jointly organized a seminar to share insights on the opportunities and challenges for Thai products in the Halal market, enhance understanding of Halal certification and explore the potential of reaching Muslim customer group market through online trading platforms.
SMEs involved in exporting and manufacturing for export can participate in the project and apply for EXIM Thailand’s export credit facilities to enhance their working capital and liquidity at a minimum interest rate of 4.75% per annum for the first year. Additionally, they will receive the EXIM for Small Biz export credit insurance policy, covering the risk of non-payment from foreign buyers, with a value of 1,800 baht for free. Halal product standard certified exporters will receive exclusive benefits in the form of vouchers worth up to 2,000 baht for discounts on the EXIM for Small Biz export insurance premium for their second buyer or a discount on buyer risk assessment for one buyer. These benefits are available from now until June 30, 2024.