7-pronged strategy for export

Malee Choklumlerd, director-general of the International Trade Promotion Department, said yesterday that next year’s exports should return to a rising trajectory along with the expected expansion of the global economy and trading.

The global economy is expected to grow by 3.6 per cent next year, up from this year’s 3.1 per cent, while world trading will increase by 2.4 per cent from this year’s contraction of 11.2 per cent. Major markets are expected to show improvement, including the European Union by 1.6 per cent, the United States by 2.8 per cent, Japan 1 per cent, India 7.5 per cent and Asean 4.9 per cent.

The five-year (2016-21) export strategy will focus on market access and economic cooperation, demand-driven marketing, trade promotion with Cambodia, Laos, Myanmar, Vietnam, China and India, outward investment promotion, trade in services, innovation-driven enterprises, and value creation. 

However, the potential challenges to trade expansion are concern over terrorism and political conflicts, continued declining oil and crop prices and volatile exchange rates.

Many products should also enjoy better orders from abroad next year, except certain products. 

Fishery products face a negative image from (IUU) illegal, unreported and unregulated activities and labour problems.

Rubber products have been victims of the declining oil price. 

Garments and textiles are a sunset industry, with many Thai factories shifting to neighbouring countries.