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Export growth set to hit 25% |
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Export growth this year may reach 25% despite ongoing political strife, as shipments to new markets including Africa and the Middle East offset cooling demand in the United States. ''Exports this year will exceed 20% for sure and 25% is likely achievable,'' said caretaker commerce minister Chaiya Sasomsab, who met yesterday with 23 honorary trade advisers to the ministry, minister-counsellors and directors of Thai trade centres from 56 offices worldwide to evaluate the situation this year and prepare strategy for next year. ''Exports to conventional markets such as the US, Japan and the EU are still growing despite their slowdown. And shipments to new markets such as the Middle East, Africa, China, and ASEAN countries have seen healthy growth.'' For the first seven months, exports were $104.17 billion, a rise of 26.1%, accounting for 60.9% of the country's export target. Imports for the period rose 36.8% to $106.26 billion, resulting in a deficit of $2.09 billion Baht. In 2007, total exports stood at $152 billion, and the ministry set an official growth target of at least 12.5% this year. Officials were urged at the meeting to beef up marketing in newer markets _ like Latin America, Africa, the Middle East and Eastern Europe _ and to promote service businesses like restaurants and spas, while white rice and Thai Hom Mali rice are also being pushed. Currently, there are about 15,000 Thai restaurants established worldwide. Another 2,000 restaurants are anticipated by year-end. Only 1,085 Thai restaurants have been given the Thai Select Award by the Export Promotion Department as an emblem of standardised taste and quality. According to Mr Chaiya, the government also urged Thai entrepreneurs to expand their investment to foreign countries in order to establish business networks and set up more production factories in foreign countries. Currently, about 800 Thai companies have a presence in foreign countries scattered among China, Vietnam, India, the US, the UK, Singapore, Japan, The Philippines, Laos and Indonesia. However, Mr Chaiya declined to set an export target for next year, saying it was too early to estimate the figure. ''First we have to hold more discussions on external risk factors. The world's purchasing power will definitely be eroded if the global economy suffers from a slump,'' he said. ''However, we hope the US economy will improve after their presidential election.'' |
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Bangkok Post, 16.09.2008 |
