Commerce Ministry reassesses export situation

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Commerce Ministry reassesses export situation

Tanakorn Sangiam

 

 

BANGKOK, 23 August 2019(NNT) - After a better performance by Thailand’s export sector, the Department of International Trade Promotion (DITP) has held talks with key exporters to discuss challenges, since maintaining exports at 3 percent growth this year.

 

The Ministry of Commerce has invited delegates from private companies through the Thai Chamber of Commerce, the Federation of the Thai Industries, the Thai Food Processors’ Association, the Thai Electrical, Electronics, and Telecommunication Industries Association, the Thai Silver Exporters Association, the Thailand-India Business Council, the Thailand-China Business Council, and key exporters of rice, sugar, and rubber, to a meeting assessing the export sector for Q3, 2019.

 

The DITP Director General Banjongjitt Angsusingh, said today that the Ministry of Commerce will continue to pursue the government’s targets, after the Cabinet in their meeting last week on the overall Thai economic performance, estimated that the Thai export sector wold expand 3 percent in the second half of this year, and at 3.5 percent in 2020.

 

Many companies participating in the meeting agreed the export sector performed better in the second half of this year, while still anticipating 0.9 percent recession. The Ministry of Commerce has maintained a 3 percent growth target this year, and will be pushing the value of exports in the remaining months of 2019 to achieve an average of 23 billion USD monthly.

 

The DITP has received suggestions and requests from the private sector, including the expedition and unlocking of agreement negotiations, especially the Regional Comprehensive Economic Partnership (RCEP), Thailand-EU FTA, Thailand-UK FTA, penetration of new markers such as India, stabilizing measures for the Thai currency, and addressing complex trade regulations with countries such as China and India. Accomplishments from these negotiations are expected to help the export sector reach this year’s target.

 

The department will work closely with the private sector on market and product-specific plans.

 

-- © Copyright NNT 2019-08-24

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[Isaan sailor]

So they suggest “stabilising measures for the Thai currency”?  As if they like it grossly overpriced, and desire to keep it that way.  Perhaps they’ve drunk some of that intoxicating Chinese hot money inflow from bond sales over at Bank of Thailand...