Services sector in focus as four-pronged strategy strives for export growth in 2020
The International Trade Promotion Department (DITP) has come up with a four-point strategy for 2020 to ramp up exports.
Somdet Susomboon, the department’s director-general, said there might be a little struggle to evaluate the export goal for 2020 as the economic situation has not yet recovered from the baht’s appreciation and trade war. He said they will try to achieve growth in the services sector, which is seen as having potential after Commerce Minister Jurin Laksanawisit went on several international trips to negotiate trade agreements and pushed for the Regional Comprehensive Economic Partnership (RCEP).
Thailand might get opportunities for food exports since many countries are facing unrest, and civilians have to store more food.
“We will have a commercial ambassador conceive the work policy and the export target for 2020 during the Bangkok Gems & Jewellery event in February 2020. The meeting with the private sector will discuss estimations for total export forecast for each market and then make a summary. Export potential is seen as positive in 2020.”
The four strategies to boost exports next year are:
1 Improve product channels by sending trade representatives to negotiate and expand markets: old markets ( China, Japan, Germany, England, EU), new market (India, Turkey, Sri Lanka, Bangladesh, South Africa); and restore markets (the Middle East region).
Jurin has negotiated with trade representatives from governments and the private sector, making 16 trips to 18 countries. In addition, the government is expanding its TOPTHAI Flagship further in large platforms; Bigbasket (India), Amazon (US and Japan), and Presto Mall (Malaysia).
2 Entrepreneur skill development with international business management and e-commerce courses to be offered in cooperation with the Panyapiwat Institute of Management.
3 Improve product quality by creating more brands from Thailand with QC licence such as TMark, DEMark, PM-Award, Thai Select, ELMA, etc.
4 Department to upgrade service and database with AI and business AI to make it easier and more accurate.
