Export strategy adjusted with focus on regional markets, FTAs
The Commerce Ministry is rushing to adjust its export strategy for major traditional markets, particularly Asean and other trading partners with free trade agreements with Thailand.
It is also drawing up a plan to facilitate exports of SMEs.
Srirat Ratthapana, director-general of the International Trade Promotion Department, said last week that the global economic crisis in major traditional markets particularly the United States, European Union and Japan has caused Thailand to face an export drop.
As part of the strategy, Thai Trade Centres overseas would provide trading information to Thai exporters to encourage them to access those targeted markets more.
In particular, Asean will be a key market as it evolves into a single market in two years. Exporters should prepare for tougher competition. The bilateral free trade pacts that Thailand has already formed with targeted partners will also create more export opportunities.
Asean currently accounts for 20-21 per cent of the country’s total exports, but under the revised strategy it is believed that there is room for the region to get a bigger share. The Asean market will be divided into two groups. One consists of Cambodia, Laos, Myanmar and Vietnam. The other consists of the Asean Five – Brunei, Indonesia, Malaysia, the Philippines and Singapore. The strategy
will help exporters directly ship products that serve the market’s needs and expertly plan their marketing methods.
The department will encourage SMEs to focus more on the overseas market, with Asean as the priority.
The 63 Thai Trade Centres around the world will play a major role by supplying information on trade and investment regulations. Their responsibility should not only be to promote trade but also to explore sources of materials to strengthen the country’s cost competitiveness.
The Commerce Ministry’s urgent task is to accelerate the "Kitchen of the World" project, as Thai food has great potential to grow. One Tambon One Product exports will also be promoted.
The department will implement electronic commerce (e-commerce) to support the exporting of SMEs.
The department is planning to call a meeting of the Thai Trade Centres to jointly consider Thailand’s export target for next year. The Kingdom will face export difficulties due to the world’s economic downtrend.
Export promotion activities for next year are planned to expand to 463 projects from 411 projects this year. They will include participating in 96 international trade fairs, arranging 22 Thailand trade shows and organising trade missions abroad to promote exports and firm up relations with trading partners.
