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Export growth forecast lowered to 4.5% for 2012

Thailand lowered its export growth forecast for this year from 12.8 to 4.5 per cent, with an economic expansion of 5.69 per cent

Aishwarya Gupta

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Thailand  lowered its export growth forecast for this year from 12.8 to 4.5 per cent, with an economic expansion of 5.69 per cent.Fiscal Policy Office Director Somchai Sujjapongse said the percentage in response to Europes debt crisis and the worlds economic problems.

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However, he said the commerce ministrys export growth target remains unchanged at 15 per cent in order to drive the work of officials to achieve the goal.Mr Somchai said he had reported to Prime Minister Yingluck Shinawatra on the German Federal Constitutional Courts ruling Wednesday on the European Stability Mechanism ESM ratification in order to help bring economic governance to countries in the euro zon

via 2012 export growth forecast lowered to 4.5%.

Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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