Connect with us
CGIF-10th-Year-Anniversary

Trade

Commerce Ministry revises May export goal

National News Bureau of Thailand

Published

on

BANGKOK, 13 April 2019 (NNT) – As a reduction in the global economic growth projection by the International Monetary Fund to 3.3% from 3.5%, and a new lower value of global trade expectations of 3.4% down from 4%, will eventually affect the Thai export sector; the Ministry of Commerce will be holding talks with the private sector and industries after the Songkran holidays to make necessary adjustments to the May export projection, and to evaluate the situation with Thai commercial attaches nationwide.

The Department of Foreign Trade’s (DFT) Director General Banjongjitt Angsusingh revealed the department will hold talks later this month to assess the export situation with the private sector and each industry, before holding a meeting with head of trade promotion offices globally in May, to adjust the export strategy according to the situation and revise this year’s export goal.

The department will be working harder to promote well-performing products such as food, farm items, processed farm items, and items requiring domestic raw materials; while items affected by the trade war between China and the U.S. such as vehicle parts and electronics will be difficult to promote due to a declining global economy, but the department will adjust the strategy to target markets affected by sanctions, opening new opportunities for Thai products.

The DFT chief said she believes exporters can adjust themselves appropriately, however risk factors from currency fluctuations still persist, thus companies should be covered by risk insurance, or opt to use the currency of their trading partner instead of U.S. dollars.

Source link

Comments

China

RCEP and China: Reimagining the future of trade in Asia

The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.

Avatar

Published

on

Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.

(more…)
Continue Reading

Trade

Will RCEP help drive South-east Asia’s Covid-19 recovery?

The Regional Comprehensive Economic Partnership (RCEP) was finally signed on Sunday November 15, on the sidelines of the annual summit of the Association of South-East Asian Nations (ASEAN).

Oxford Business Group

Published

on

Marking a significant regional milestone, it is hoped that the RCEP will help its 15 signatories recover from the economic fallout of the coronavirus pandemic.

(more…)
Continue Reading

China

Thailand ready to ink big Chinese-backed trade deal

The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.

Olivier Languepin

Published

on

Thailand is set to sign the world’s biggest free trade agreement with Japan, China, South Korea and 12 other Asia-Pacific countries at the 37th Asean Summit this week.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,565 other subscribers

Trending