Ministry eyes export growth of 7% in 2014
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On back of global economic recovery
The Commerce Ministry expects the Kingdom’s exports will expand by at least 6-7 per cent next year due to recovering global economic growth, mainly in China, and a continuation of US growth now that its debt stalemate has been resolved, at least for now.
Deputy Prime Minister and Commerce Minister Niwatthumrong Boonsongpaisan yesterday said overseas shipments next year should see stronger growth, due to an expected improvement in on the global economic front, leading to trade growth.
“Many economic giants have been struggling to promote growth amidst concern over a slowing down of global economic expansion. The economies of those nations should recover and show stronger growth, which should benefit Thai exports next year,” he said.
Niwatthumrong said many countries were trying to promote growth to ensure that they maintain strong economic fundamentals. The Thai economy should benefit from those counties’ efforts, as they will increase import demand next year.
Based on the ministry’s assumptions, Thai exports should grow by 4 per cent this year, sharply down from the official target of 7-7.5 per cent due to the worldwide economic slump.
Exports of agricultural products in particular are expected to improve next year, he said, adding that the prices of farm goods and foreign demand should both increase following reduced output in many markets due to natural disasters.
Meanwhile, to promote understanding among Thai enterprises about Asean integration in 2015, the Commerce Ministry will hold an exhibition about the Asean Economic Community from October 28 to November 6 at the Government Complex on Chaeng Wattana Road.
The event will provide a showcase for 12 industrial clusters’ supply chains, as well as information on each industry in other Asean countries so that Thai operators can learn and adapt themselves in light of upcoming regional liberalisation.
