Recessionary trends in major economies of USA and EU leading to contraction in demand in these traditional markets have made it essential for exporters in many countries to take an initiative to diversify their export markets in emerging markets. For GMS, these markets could be Latin America, CIS countries, Middle East and ASEAN.
However, this process of shift from traditional products/markets to newer products/markets would require a systematic process. Towards understanding this diversification process, the Trade and Investment facilitation department of Mekong Institute has developed a Product Market intelligence (PMI) application software with the objective to help exporters in GMS find countries with the largest and fastest growing markets for their exports and help determine which foreign markets will be the most penetrable and profitable.
The application runs into a step by step process of identification of the right product-market mix i.e. deciding which product to sell in which market through the use of competitive indicators and analytical tools. The Product-Market identification Portal Application software is developed for 60 selected products (10 each from Yunnan (China),Cambodia, Laos, Myanmar ,Thailand and Vietnam) by identifying top 10 markets for each of the products with the following features: Identification of HS code (country wise products), Export trends for each product, Identification of right product based on RCA trends, Identification of right export market, Trade Intensity Index (TII), Tariff and Non-Tariff Barriers, Quotas & Licensing, Free Trade Arrangement (FTA) & Preferential Trade Arrangements (PTA) and System Generated Dynamic Graph and Reports.
The software was introduced in a workshop on SME Cluster Development and Product Market Intelligence held on 15-16th of October in Phnom Penh. The workshop was attended by 30 participants from Cambodia, Laos, Myanmar and Vietnam. The workshop is part of the modular training to share experiences and obtain feedback on the implementation of the action plans to form SME clusters and export consortia in GMS countries and the PMI software.
In the workshop, a dissemination plan has been prepared to reach out to the potential users in the GMS countries. The activity is part of the three year project on “Capacity Development Program for Integrating CLMV economies into AEC” funded under the New Zealand Aid Program in the CLMV or Cambodia, Laos, Myanmar and Vietnam.
Enhancing access to market information for GMS exporters
Recessionary trends in major economies of USA and EU leading to contraction in demand in these traditional markets have made it essential for exporters in many countries to take an initiative to diversify their export markets in emerging markets. For GMS, these markets could be Latin America, CIS countries, Middle East and ASEAN. However, this process of shift from traditional products/markets to newer products/markets would require a systematic process. Towards understanding this diversification process, Mekong Institute (GMS Inter Government Institute) based in Thailand has developed a Product Market intelligence (PMI) application software with the objective to help exporters in GMS find countries with the largest and fastest growing markets for their exports and help determine which foreign markets will be the most penetrable and profitable. The application runs into a step by step process of identification of the right product-market mix i.e. deciding which product to sell in which market through the use of competitive indicators and analytical tools. The Product-Market identification Portal Application software is developed initially for 60 selected products (10 each from Yunnan (China),Cambodia, Laos, Myanmar ,Thailand and Vietnam) by identifying top 10 markets for each of the products with the following features: Identification of HS code (country wise products), Export trends for each product, Identification of right product based on RCA trends, Identification of right export market, Trade Intensity Index (TII), Tariff and Non-Tariff Barriers, Quotas & Licensing, Free Trade Arrangement (FTA) & Preferential Trade Arrangements (PTA) and System Generated Dynamic Graph and Reports.
The software was introduced in a workshop on SME Cluster Development and Product Market Intelligence held on 15-16th of October in Phnom Penh. The workshop was attended by 30 participants from Cambodia, Laos, Myanmar and Vietnam. The workshop is part of the modular training to share experiences and obtain feedback on the implementation of the action plans to form SME clusters and export consortia in GMS countries and launched the software on product market intelligence (PMI) which has been developed using the intelligence gathered by the participants for their chosen products in the GMS Countries.
In the workshop, a dissemination plan has been prepared to reach out to the potential users in the GMS countries. The activity is part of the three year project on “Capacity Development Program for Integrating CLMV economies into AEC” funded under the New Zealand Aid Program in the CLMV or Cambodia, Laos, Myanmar and Vietnam.
