Export-Import (Exim) Bank of Thailand has launched a project to encourage small merchants or individuals to enter the export business, says president Rak Vorrakitpokatorn.
Mr Rak said in addition to small and medium-sized enterprises (SMEs) with an interest in becoming exporters, small merchants or individuals can also sell goods in the global market.
"They don't have to worry about a lack of expertise in exporting as we have training courses for them," he said.
The bank also developed the Exim Thailand Pavilion online trading platform for vendors to promote their products online.
Under this sandbox initiative, the bank will provide loans of up to 200,000 baht per borrower with an annual interest rate of around 6%, depending on their credit.
If a potential borrower does not have sufficient collateral, they can seek a loan guarantee from the Thai Credit Guarantee Corporation.
Exim Bank believes the export sector this year will expand at a higher rate than last year. The sector grew 12.9% in the first five months of this year.
With the current upward trend in interest rates, the bank will continue to hold its prime rate steady at 5.75% per year to help ease exporters' costs, Mr Rak said.
He suggested exporters quickly adjust their operations by upgrading their products and production processes to make green, digital and health products, in line with the demand from a new generation of consumers.
Moreover, Mr Rak said they should try to promote their products online and reap benefits from markets in the Regional Comprehensive Economic Partnership, the world's largest free trade zone with a total population of 2.3 billion.
The bank estimates the value of global e-commerce will surge to US$7.4 trillion in 2025 from $4.9 trillion last year.
He said Exim Bank achieved its outstanding loan target of 156 billion baht for this year in July.
