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Public hearing held ahead RCEP talks
The Commerce Ministry recently conducted a public hearing on the Regional Comprehensive Economic Partnership (RCEP) in an attempt to ensure understanding among concerned sectors before the first round of talks begins this month.
Piramol Charoenpao, director-general of the Trade Negotiations Department, yesterday said that the first round of negotiations is scheduled to take place from May 9-13 in Brunei.
The Thai authorities need to create awareness and understanding among all parties involved, so that they can prepare for what will be the largest trading bloc in the world, said the official.
The RCEP will have a combined population of more than 3.35 billion and a gross domestic product worth more than US$17.7 trillion (Bt519 trillion), accounting for 27 per cent of global GDP.
RCEP membership will comprise the 10 Asean member states, China, Japan, South Korea, India, Australia and New Zealand.
The partnership will pursue the liberalisation of trade in goods, services and investment, plus cooperation in the fields of trade competition, intellectual property and the environment.
Advice to exporters
The International Trade Promotion Department recently opened the AEC Plus centre, which will provide advice and trade information for exporters wishing to penetrate the Asean market.
The centre will give advice via the department’s 1169 hotline.
Director-general Srirat Rastapana said the centre would support the department’s target of increasing trade with the region under upcoming Asean integration.
The department has 62 projects for promoting exports to Asean this year, including high-level official meetings, trade delegations, in-store promotions at Asean department stores, trade exhibitions and business-matching.
New Goodyear MD
Goodyear Thailand has appointed a new managing director for the next phase of its growth.
Finbarr O’Connor took up the position yesterday, replacing Suttipong Wannawanit, who is leaving the company to pursue other interests.
O’Connor will have direct responsibility for all areas of the Goodyear Thailand business, ensuring leadership in its targeted segments, innovation leadership and competitively advantage, the company said.
O’Connor, who has been with Goodyear since March 2011, comes to the position with a wealth of experience. He has extensive knowledge of the Asia-Pacific and Thai markets, with previous international postings including career assignments in Australia, Japan, Thailand and China for the Ford Motor Company and Mazda Motor Corp.
His most recent position has been as consumer PBU and OE sales director for Goodyear’s Asean cluster.
Exports up 4.5%
Thailand’s export value in US dollar terms rose 4.55 per cent year on year in March, Thai National Shippers’ Council chairman Nopporn Thepsithar said yesterday.
However, export value in baht terms increased by only 1.47 per cent in the month, he said.
The council forecasts that the country’s overall export value will increase by 4.92 per cent for the full year, under the assumption that the baht will average 28.25 per dollar.
The forecast does not, however, build in anything for further uncertainty similar to the major fluctuation of the currency late last month.
No bid from PTT in third IPP round
PTT did not submit a bid under the third-round of the independent power producer (IPP) programme, Energy Regulatory Commission chairman Direk Lawansiri said yesterday.
He said PTT's decision may stem from growing dissent from non-government organisations over the company’s dominant role in the energy sector.
The third IPP round aims to increase electricity generating capicity by 5,400 megawatts. All new power plants will be powered by natural gas, which is solely supplied by PTT.
SEA Games deal
Dentsu Network Asia won a contract to provide sponsorship management for the 27th SEA Games, to be held in Myanmar in December.
Under the deal, Dentsu will help in procuring and selecting sponsors for the games, which were last hosted in Myanmar in 1969.
New homes soar
More than 40,000 residential units were launched in the first quarter, about 40 per cent higher than in the same period last year, according to the Government Housing Bank’s Real Estate Information Centre (REIC).
Of the total, 27,500-28,000 were condominium units, belonging to 60 newly launched projects. This was a 26-per-cent increase from the corresponding period, when 43 projects with 21,900 units were launched.
Of the condo units, 68 per cent quoted prices below Bt2 million.
In the period, 70 housing estates were introduced to the market, offering 11,500-12,000 units. This represented an increase of 67 per cent from 6,900 units in the same period last year. Forty-one per cent of the new units were priced below Bt2 million.
Sanvo launch
Singha Corp has invested Bt150 million in the launch of its first sports drink, Sanvo, which is set to expand the company's portfolio for non-alcoholic beverages to 30 per cent within the next three years, up from 12 per cent currently.
Singha executive director Prurit Bhirombhakdi said the launch was in line with the company’s strategy in continuously developing and launching new non-alcoholic drinks into the market.
It will also focus on expanding its products into neighbouring markets such as Myanmar, Cambodia and Laos, and other Asean markets, in order to cash in on the implementation of Asean Economic Community, which comes into effect in 2015.
The company has already invested more than Bt200 million in adding the new production line for sports drink to its factory in Sam Sen.
