Thailand’s Ministry of Commerce is closely monitoring the global rice situation after India banned rice exports since July 20. In the meantime, ministry officials are confident Thailand will be able to export more than 8 million tonnes of rice this year.
New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry's Business Development Department.
Thailand exported over 1 million tonnes of fruit valued at 92 billion THB to China during the first half of this year, according to Thai government spokesman Thanakorn Wangboonkongchana.
The Thai Commerce Ministry has called for continued cooperation from manufacturers to maintain product prices as long as possible in order to curb the negative impact on consumers.
Thailand's exports beat expectations by growing 16.2 percent in February, driven by higher international demand on the back of global economic recovery and proactive trade promotions.
The Thai Commerce Ministry has launched measures to increase rice exports to 6 million tonnes this year, valued at around 150 billion THB (4.83 billion USD), with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
Thailand’s cross-border trade, including transit trade, fell by 7.42 percent year-on-year in the first eight months, mainly attributed to the impact of the COVID-19 pandemic and a slowing economy.
The Thai Ministry of Commerce will push the country’s Cabinet in October to consider signing the Regional Comprehensive Economic Partnership (RCEP) agreement.
Thailand’s exports declined by almost 23.2 percent in June compared to the same period last year, the strongest fall since July 2009, but the country’s Commerce Ministry still expects improvement in the second half of 2020.
Thailand's natural rubber industry is likely to remain depressed this year despite a sharp rise in demand for protective rubber gloves driven by the COVID-19 pandemic.
Thailand’s customs-based exports recorded an annual growth of 2.12 percent in April as a result of higher shipments of agricultural products, food and gold, according to the country’s Commerce Ministry.
The Commerce Ministry of Thailand is pushing for cabinet approval for the country's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) amid fierce opposition from civil groups which have argued the move will have an adverse impact on food security and access to medicines, local media reported.
The Thai Commerce Ministry has approved a farmers aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.
Officials of 16 Asia-Pacific countries have voiced their commitment to accelerating negotiations on the Regional Comprehensive Economic Partnership (RCEP) agreement with the hope of finalising it by November, according to a Thai official.
The Thai Commerce Ministry said on June 11 that the country will discuss with the European Union the impact of Brexit and restart negotiations on a free trade agreement (FTA) between the two sides at the 14th meeting of the EU-Thailand working group set for June 14 in Brussels, Belgium.
The Minister of Commerce has invited delegates from a major shopping mall in Okinawa, Japan, for business negotiations in Thailand to promote the sale of Thailand’s innovative farm products in Japan.
Thailand’s export of fresh, chilled, frozen, and dried fruit and vegetables in the first two months this year has grown from 2018 at 46.85 percent, expected to reach annual growth of 30-40 percent worth 4 billion USD.
The Ministry of Commerce of Thailand has met with business operators recently to discuss approaches to boosting Thai exports, hoping to achieve an 8 percent annual growth target.
Thailand is looking likely to record a 9 percent growth in exports this year, higher than the previous forecast of 8 percent, thanks to high global demand, according to the country’s Ministry of Commerce.
ASEAN
