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Thailand.com forms e-commerce joint venture—The Nation
Apr 5, 2001

THAILAND.com, a leading Internet site, yesterday signed a deal with Meet World Trade Inc to create an import-export joint venture that will operate solely in the e-marketplace.

Founded by Nation Multimedia Group, publisher of The Nation, Thailand.com will command a 65-per-cent stake in the new company, with Meet World Trade, which operates portal site Meetchina.com, controlling the remainder shares.

Nation Multimedia Group chairman and chief executive officer Thanachai Theerapatvong said the new partnership, named Meet World Trade (Thailand), represented the country's leading e-marketplace for cross-border trade. It would enable thousands of local businesses to conduct online trading and usher in a new era for the export sector, he said.

"Companies will be able to conduct all of their business online, from initial contact to settlement of accounts. Buyers and sellers will also be able to negotiate online," Thanachai said. "After they agree to a deal, they can efficiently and cost effectively use all trade services available on the portal, including logistics, insurance, inspection, payment, trade finance, customs clearance and other key features required for global trade."

Meet World Trade (Thailand) will enable small and medium-sized exporters to use the Internet to expand their markets, he said.

Meet World Trade chief executive Len Cordiner said, "The key to the success of this venture is the ability of our partner to build high-quality content that is verified and e-commerce enabled.

"Thailand.com reaches many suppliers, both through its Internet presence and other media avenues available via the Nation Group, and has shown its ability to build high quality content," he said. "The new joint venture increases the Internet options that are open to exporters.

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