FRIDAY, March 29, 2024
nationthailand

Shippers' council expects 2.5% export growth in 2015

Shippers' council expects 2.5% export growth in 2015

The Thai National Shippers Council projects export growth to shift into higher gear at 2.5 per cent next year from the practically flat expansion expected this year, thanks to clearer signs of an economic recovery in the United States.

However, it is still concerned about many foreign markets and Thailand’s weakening product competitiveness.
The Commerce Ministry, more optimistic than the shippers’ council, has set a goal to drive export growth next year to 4 per cent by penetrating all markets and neighbouring countries and organising mixers with new trade partners.
Commerce Minister Chatchai Sarikulya said yesterday that an economic recovery next year was still unclear, but the ministry would closely cooperate with companies to drive overseas shipments.
The ministry hosted a business-matching reception in Bangkok with 100 local firms from various industries and 40 foreign companies from 15 countries to discuss trade opportunities.
Nopporn Thepsithar, chairman of the shippers’ council, said exports – especially food, automobiles and parts – started recovering in October, after the pick-up in the US economy.
However, risks remain in the form of uncertain global economic growth next year, low prices for farm commodities, unexpected natural disasters, the Ebola outbreak and the dull competitive edge of some industries.
Other positive factors are the weakening baht, falling oil prices, booming border trade and seamless trading in Asean next year.
The council has urged Thailand to improve its competitiveness, particularly in human resources, science and technology, and innovate to add value to products and services.
The council predicts that exports this year will face a slight contraction of 0.2 per cent or expand only 0.2 per cent, after declining 0.36 per cent in the first 10 months.
Ivan Novikov, an international trade expert at DV-Tranzit Co from Russia, said his company was looking for frozen pork and chicken from Thailand. 
After the European Union targeted Russia with sanctions, Russian companies have looked for more trade outside the EU. Thailand is one of the high-potential countries that Russia would like to trade more with.
The firm is expected to import initially about 25,000 tonnes of frozen meat a year. It has already negotiated contracts with Charoen Pokphand Foods and Betagro, he said.
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