Central Group plans to open the 12th Italian branch of its La Rinascente department store in Rome next year.

Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said yesterday that the 13 members of the new forum were leading companies from Italy such as Ducati, Italcementi, Ferraro and Pirelli and 17 companies from Thailand such as Thai Airways International, Bangkok Bank, Siam Cement, Charoen Pokphand, Central and Dusit International.

The forum invited these leading companies to become members to help drive the economy.

“The new joint-forum will encourage more investment in both countries, from Italy to Thailand like automobiles, food, furniture and industrial design, and from Thailand to Italy like hotels, retail, food and tourism,” he said.

To encourage investment here, the forum and chamber will provide training and exchange information with Italian companies.

The forum would be the new channel for Thai entrepreneurs to enter the Europe Union for further investment, he added.

Busaba Chirathivat, senior vice president of Central Retail and co-chairwoman of the forum, said the forum would help operators or members in Thailand find partners in Italy more easily than working with government bodies because executives and companies feel comfortable discussing and working together.

They will have more chances to exchange information and join in business endeavours.

“Thailand can be a new place for investment from Italy such as rubber and energy. Thailand also can offer good tourism destinations for Italian tourists.

“Moreover, Thailand still has more room for Italy’s helicopter business,” she said.

Central Group would also benefit from the forum as it can help sell more food to overseas markets besides through its 11 La Rinascente shopping malls in Italy.

Isara said the Thai economy in the first half of this year dropped by 2 per cent due to low consumption but expects the economy to pick up in the second half. The global economy may cause European companies to consider halting investment in Thailand.

“After all, I expected the Thai economy will grew by 3-3.5 per cent this year,” he said

Italian Ambassador Francesco Saverio Nisio said Thais and Italians could strengthen cooperation as many Italian have been investing in Thailand while some leading Thai companies like Central Group have already invested in Italy.

“I’m confident in Thailand, judging from the number of Thai tourists to Italy doubling over years while Thailand remains a popular destination for Italian tourists as well as other sectors like cars, motorbikes, medicine and insurance,” he said.

He said 66 projects from Italy have invested in Thailand.

However, some Italian companies still lack knowledge about Thailand’s business environment and economy so the new body would help boost investment in both directions.

“A few months ago, two more Thai companies joined the forum. The next meeting in Italy next year is expected to have more Italian companies,” he said.