Thai Commerce Ministry aims to increase export growth by 5% this year

[webfact]

Commerce Ministry aims to increase export growth by 5% this year

 

BANGKOK, 6 March 2017 (NNT) - Commerce Minister Apiradee Tantaraporn expects Thai exports to increase by 5% this year due to several supporting factors involving global oil prices and the prices of farm goods. 

According to Apiradee, the Ministry of Commerce will boost the export sector by establishing partnerships with more countries and increasing the volume of Thai products in existing markets. The minister will also seek help from foreign trade representatives in a bid to understand the demand of foreign markets. 

ASEAN nations will remain Thailand’s major export destinations as 25% of Thai products are sold to these countries. 

Meanwhile, the Department of Business Development (DBD) is attempting to amend laws to support the growth of startup companies. 

Meetings between the DBD and the Thai Chamber of Commerce as well as the Office of the Council of State and the Electronic Transactions Development Agency have been held to collect suggestions and opinions regarding the improvement of such laws. The DBD will propose the changes to the Commerce Minister for her consideration this month before seeking the Cabinet’s approval.

 

-- nnt 2017-03-06

[Srikcir]

On the other hand

 Currency’s resilience could hurt exports: AllianceBernstein

The baht’s strength wasn’t helping the economy. 

https://www.bloomberg.com/news/articles/2017-03-05/thailand-s-asean-haven-status-giving-central-bank-baht-headache

 

 

[TommyUK1960]

Thailand needs to weaken the currency to help exports.

[elgordo38]

As I recall years ago at the Fall Fairs and circuses they had a penny fortune teller machine that took pennies and spit out a forecast. As they are now a part of history I think I know where they are now being warehoused. 

[esprit]

As 99.9% of the supporting data for Thai Government economics is never in the public or domain or released,  there is never any way to corroborate anything so at the end of the year they could claim exports grew by 5.1%  and there is no way to prove otherwise so hence they can spout all kinds of ridiculous figures for the consumption by the populace.  A bit like unemployment figures - pie in the sky

[darksidedog]

They could make a fortune exporting ways to deal with twisting the facts and totally misrepresenting the true situation to Donald, who must be short on whoppers to tell right now.