ID :
103177
Thu, 01/28/2010 - 18:51
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http://m.oananews.org//node/103177
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Commerce Ministry confident exports to grow 14% in 2010
BANGKOK, Jan 28 (TNA) – The Department of Export Promotion (DEP) forecasts Thai exports for 2010 will likely grow 14 per cent, over US$173 billion thanks to global economic recovery and free trade agreements with many countries.
DEP director-general Srirat Rastapana said the agency is confident that exports can reach their target of 14 per cent growth due to the global economic recovery expected to grow 3.1 per cent, and Free Trade Area agreements with counterparts, particularly the regional ASEAN (Association of Southeast Asian Nations) Free Trade Area (AFTA), which took effect January 1.
She said the 14 per cent target was quite challenging amid the world economic recovery process.
In addition, the quality of Thai products are acceptable in terms of international standards while goods from major competitors such as China still face quality and standards problems.
Mrs Srirat said this year’s exports were facing risk factors due to trading partners’ economic trends, as they might recover more slowly than expected.
Other factors affecting exports included the fluctuation of oil prices, the appreciation of baht currency, labour shortages and non-tariff trade barrier policies, she said.
Although the overall global economy in 2010 began to recover, many economic experts from varied institutions forecast that many factors could cause problems to the fragile world economy, she said.
DEP plans to closely monitor the situation and to speed its penetration strategies to new and existing markets including China, India, Brazil, South Africa, and Middle East countries, especially Libya and and Saudi Arabia.
The director-general said the commerce ministry continued to prepare measures and activities to expand export markets and closely follow up problems in the new markets. (TNA)
DEP director-general Srirat Rastapana said the agency is confident that exports can reach their target of 14 per cent growth due to the global economic recovery expected to grow 3.1 per cent, and Free Trade Area agreements with counterparts, particularly the regional ASEAN (Association of Southeast Asian Nations) Free Trade Area (AFTA), which took effect January 1.
She said the 14 per cent target was quite challenging amid the world economic recovery process.
In addition, the quality of Thai products are acceptable in terms of international standards while goods from major competitors such as China still face quality and standards problems.
Mrs Srirat said this year’s exports were facing risk factors due to trading partners’ economic trends, as they might recover more slowly than expected.
Other factors affecting exports included the fluctuation of oil prices, the appreciation of baht currency, labour shortages and non-tariff trade barrier policies, she said.
Although the overall global economy in 2010 began to recover, many economic experts from varied institutions forecast that many factors could cause problems to the fragile world economy, she said.
DEP plans to closely monitor the situation and to speed its penetration strategies to new and existing markets including China, India, Brazil, South Africa, and Middle East countries, especially Libya and and Saudi Arabia.
The director-general said the commerce ministry continued to prepare measures and activities to expand export markets and closely follow up problems in the new markets. (TNA)
