Steps sought to reach 15% export growth

According to a recent report by the Commerce Ministry, Thailand needs to achieve an average export value of US$21.33 billion (Bt678 billion) a month from June to December to ensure 15-per-cent growth. The ministry reported that monthly export value averaged $18.49 billion during the first five months of the year.
As part of the government’s policy to drive export growth by 15 per cent to $263.13 billion, Prime Minister Yingluck Shinawatra will today chair a workshop at Centara Grand Hotel Bangkok with leading exporters from the Federation of Thai Industries, the Thai Chamber of Commerce, the Thai National Shippers Council, and various trading associations.
Shipments during the first five months dropped by 1.47 per cent year on year to $92.49 billion, meaning that another $170.64 billion worth of exports are needed in the remaining months to reach the $263.13-billion target.But Thailand is facing double troubles, as the European Union’s economic crunch is spreading to many countries, including to the United States, which is a major foreign investor in the EU.
To counter this, the ministry will today propose a plan to the prime minister and exporters that focuses on exporting to Asean, China, India, the Middle East, Africa, and Latin Amer-ica, as these markets have faced relatively limited impact from the global economic crunch.
For exports to major markets, mainly the US, Japan and the EU, the government is cooperating with private exporters to promote products with high potential. These include ready-to-eat foods, furniture manufactured under green concepts, car parts, electronic parts, and services.
To promote exports to emerging markets such as China, India, |South Korea, Hong Kong, Indonesia, Malay-sia, Taiwan, the Middle East and Latin America, Thailand will focus on foods, Muslim fashion, brand-name goods, handicrafts, computers, and rubber.
It will also promote the growth of service businesses including Thai boxing schools, car-care centres, Thai restaurants, cable TV marketing, and online trading.
To boost exports to other developing markets such as neighbouring countries and Russia, Thailand will focus its marketing strategies on processed foods, fruits, seasonings, garments, footwear and other consumer goods, cars, machinery and steel.
Thailand needs to promote its goods in each market seriously. For instance, export growth to 15 countries of the EU in the first five months of the year dropped by 11.11 per cent, but the ministry has set a target to drive exports by 5 per cent to the EU this year.
During the same period, shipments to the US grew 3.44 per cent, but the target is 10-per-cent expansion this year. Exports to Japan dropped 4.56 per cent in the first five months, but the Kingdom needs a 10-per-cent jump in that market this year. Shipments to Russia and the Commonwealth of Independent States also declined considerably by 15.91 per cent, but the government has set a growth target of 25-per-cent for that market this year.