Thai exports to ASEAN countries in the first five months of 2010 expanded by 56% with the total trade value at 29.629 billion USD, according to the Department of Foreign Trade (DFT).

As elaborated by DFT Deputy Director-General, Wiboonlaksana Ruamraksa, the export value to ASEAN market stood at 17.489 billion USD while the import value was at 12.140 billion USD. Thailand could enjoy a trade surplus of 5.349 billion USD.

DFT Director-General expected that the trade value would keep augmenting thanks to the high potential of ASEAN market with about 580 million prospective customers in total. She said Thai entrepreneurs could deem it a very good opportunity to find cheap materials and expand their markets.

via Thai Exports to ASEAN market soars 56% : National News Bureau of Thailand.

East Asias fast-expanding role on the world stage has also been underscored by increasing regional economic cooperation, robust domestic consumption and coordinated government stimulus measures.In terms of regional economic integration, ASEAN is a significant market of 580 million consumers, which will benefit from the remarkable economic momentum and progress of China and India. The target for ASEANs economic integration is 2015.

In addition, East Asia of which ASEAN is an integral part has emerged as a new global economic powerhouse in the wake of the 2009 global economic crisis, which resulted in a sharp downturn in consumer demand in the West.In what appears to be a new growth model, East Asia has focused on domestic consumption and intra-regional trade as new solutions.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand Issues New Incentive Package for Electric Vehicle Industry

According to a 2021 EV report, the total stock of ASEAN electric-powered vehicles reached 3.4 million in 2019 and is forecasted to rise amid improving economic development, growing population, and concern for the environment.

9th ASEAN Competition Conference opens for registration

Hosted by Viet Nam, the conference will feature winning papers from the ASEAN- Australia-New Zealand Free Trade Agreement (AANZFTA) Competition Law Essay Contest. It will also be attended by prominent competition law enforcers and experts from within and outside the region.

Vietnam to Commercialize 5G: What Should Investors Expect

The digital economy plays a pivotal role in facilitating Vietnam’s socio-economic development strategy, expected to contribute 7 percent of GDP in 2025 and 7.5 percent by 2030. Contributing to this, 5G is projected to create US$13.1 trillion and two million new jobs by 2035.