BANGKOK, 1 October 2013 – The Ministry of Commerce has inked a memorandum of understand to sell OTOP products at Suvarnabhumi International Airport, expecting the sales of the products to top 30 billion baht a year.
Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisan has penned an MoU with King Power Company on OTOP products. Under the agreement King Power will act as a product distributor for food, clothes, decoration items, and spa products in Suvarnabhumi Airport.
The company will be looking after all management tasks, as well as overseeing product selection, product quality, and pricing. After the signing ceremony, the minister said he was confident that OTOP products were capable of competing with other brand name products offered at the airport.
According to Minister Niwatthamrong, the OTOP stores will be up and running in November. He expects to see around 30 billion baht in revenue, adding that the ministry has a plan to open more stores in other international airports such as Don Mueang, Chiang Mai, and other airports in the country. When these stores are opened, the minister said Thailand will reap in at least 70 billion baht a year from OTOP products, as he targets a 10 percent growth annually.