Thai Commerce Ministry pushes for more Exports to Emerging Markets

The prediction was based on the projection that the Thai baht remains at an average rate of 35 baht per US dollar and the average crude price stays at 55 dollars a barrel. He pointed out that the value of Thailand's exports during the first two months of this year was 35.5 billion dollars, an increase of 2.5% year-on-year.
2 years ago

BANGKOK, 24th April 2017 (NNT)

The Commerce Ministry is pushing for more exports to South Asia, Africa, and the Middle East, all of which are emerging markets. 

Deputy Director-General of the Department of International Trade Promotion, Somdet Susomboon said today that Thailand’s export sector shows signs of recovery and has a strong chance of achieving 5% growth this year as forecast by the Ministry of Commerce. 

The prediction was based on the projection that the Thai baht remains at an average rate of 35 baht per US dollar and the average crude price stays at 55 dollars a barrel. He pointed out that the value of Thailand's exports during the first two months of this year was 35.5 billion dollars, an increase of 2.5% year-on-year. 

Furthermore the International Monetary Fund earlier predicted that the global economy will expand 3.4% this year, due to the positive outlook of developing countries and ASEAN member states, including Cambodia, Lao PDR, Malaysia and Vietnam. 

The Deputy Director-General said that the government's economic policy now seeking new markets in South Asia, Africa and the Middle East offers opportunities to expand trade and investment. The move also opens doors for the Kingdom to tap into various resources, including precious stones. Thailand is currently positioning itself as an international hub of the gems and jewelry trade. 

Deputy Director-General Somdet said that these emerging markets will play an important role in the Thai export sector, by compensating for stagnant markets and contributing to the expansion of the sector.

Source: National News Bureau of Thailand

Illustration Photo: Selection of polished and raw brass 3D prints on Shapeways (credits: Shapeways / Flickr CC BY-NC-ND 2.0)

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