Economists say exports still play vital roles to Thai economy

BANGKOK, 9 Dec 2014 (NNT) - Economists have predicted that exports would play a vital role in Thailand’s economic growth in 2015, while strongly suggesting the Government to disburse funds for its investment project in order to ensure confidence in the private sector.

During the seminar ‘Thailand Economic Outlook 2015’, Chairman of Phatra Capital Public Company Limited Suppawut Saichuea stated that the export sector would perform better next year, thanks to the rapid global economic recovery. He said that the sector would become an essential element in the Kingdom’s potentials to achieve the economic growth of at least 3.7%.

Nonetheless, the chairman said that the nation’s economy would likely grow at a slower pace in the second quarter of next year when the drought season is in its peak and the draft constitution is expected to be submitted for first reading, causing a political uncertainty.

Meanwhile, a Bank of Thailand Advisor on Monetary Security Songtham Pinto is confident that Thailand would not face an economic crisis anytime soon, citing the lack of significant risks, stable rate of household debts, and the low Government debt rate as the major reasons.

However he pointed out that the country may suffer from a slow recovery rate in the export sector due to its limited production technology, while making a suggestion that the government should give more importance to the development of labor to offset the balance.


-- NNT 2014-12-09

Phew.

These experts are sharp

Who would have thought that.

Give me a minute to tune my sarcasm detector.

Commerce Ministry to join hands with Private Sector to achieve 4% exports growth

BANGKOK, 9 Dec 2014, (NNT) - The Commerce Ministry is to join hands with the private sector in efforts to achieve an exports growth of 4% next year, while devising plans to gain a foothold in the international markets for Thai products.

After a meeting with the Thai Chamber of Commerce and the Federation of Thai Industries yesterday, Commerce Minister Apiradee Tantraphon disclosed that the ministry and the two bodies had agreed to promote Thai exports in both the existing and the new markets in an effort to achieve the targeted growth of 4% in 2015.

To achieve that goal, the ministry will come up with measures aimed at strengthening Thai industrial and agricultural products and services, while seeking new markets by finding out demands of growing cities and providing them with appropriate supplies. Russia, for example, where demand for goods is generally high should give Thailand the chance to offer her products there as the republic is joining the Eurasian Economic Union, she said.

She added that Thailand should also pay attention to nations from Africa, South America, and South India as potential trading partners.

Meanwhile, President of the Thai Chamber of Commerce, Issara Wongkusonkit, pointed out that the private sector should focus on making Thai brand products more acceptable in the international market, while forging cooperation in such a way that the entire production process contributes to export growth, such as adding value to rice by using it in cosmetics or diet supplement ingredient.


-- NNT 2014-12-09

I had one (sarc detector) in tune; shXX, the thing just blew up and spilled fish sauce everywhere. Quaint smell though.

, stable rate of household debts,

, stable rate steady rise of household debts,

Edited December 9, 201411 yr by Anthony5

"such as adding value to rice by using it in cosmetics"

I know that the Burmese put something that looks similar to rotten rice on their faces, will they sell this new "Rice cosmetic" to all the Burmese migrant workers in Thailand?

Thailand would not face an economic crisis anytime soon, citing the lack of significant risks, stable rate of household debts, and the low Government debt rate as the major reasons.

Ha, Thailand has a low government debt says the expert. Ok boys, you all can play some more!

Exports still (still?) play a vital role in the Thai economy? No sh*t Sherlock! Does this guy get paid for this?

The ThaI BAHT is too high,so exports are more expensive. I dont see a lot of future for Thailand..

Songtham Pinto does not see that a slow recovery rate in the export sector is an economic crisis.

Well, so much for half of Thailand's GDP and growth rate for 2015. How the domestic half of the economy performs in 2015 will depend on immediate, large infusions of government capital into the economy which now is projected to occur in 2015 Q2. Yet, Gen. Prayuth's focus has been on China making an investment in Thailand's infrastructure! The Government seems to be following a policy of Sustainability of Ridiculousness.