Bangkok (VNA) – Thailand’s Commerce Ministryhas vowed to continue ramping up export promotion activities in the remainingmonths of 2022, with the aim of raising export revenue to 285 billion USD byyear-end, hitting the ministry's target and an uptick from 271 billion USD in2021.
According to Commerce Minister Jurin Laksanawisit, theministry plans to organise 530 activities to stimulate exports in 2022.
Despite myriad challenges, exports still recorded stronggrowth this year, with customs-cleared value of exports amounting to 173billion USD in the first seven months of the year, a rise of 11.5% over thesame period last year. Imports also rose by 21.4% to 183 billion USD, resultingin a trade deficit of 9.91 billion USD.
The ministry expects exports will expand well amid globaleconomic uncertainties by diversifying markets. Moreover, globaldemand for food and agricultural products has continued to grow and Thailandremains a strong producer and exporter.
Supporting factors include the depreciation of the baht,decreasing freight rates, an increase in the number of shipping vessels andcontainers, and a downward trend in global energy prices, which will lowercosts and enable exporters to compete in the global market.
However, inflationary risk and interest rate hikes intrade partner countries as well as geopolitical conflicts may pressure thesupply chain worldwide and will have to be monitored, said Jurin.
The ministry is also planning to form deeper tradepartnerships through mini-free trade agreements (mini-FTAs) with target citiesand provinces in foreign countries.
In the remaining months of this year, the ministry isscheduled to sign mini-FTAs with Gyeonggi province of the Republic ofKorea and Shenzhen and Yunnan of China.
The ministry previously sealed five mini-FTAs with Japan'sKofu city, China's Hainan and Gansu provinces, India's Telangana state, andBusan of the RoK./.
According to Commerce Minister Jurin Laksanawisit, theministry plans to organise 530 activities to stimulate exports in 2022.
Despite myriad challenges, exports still recorded stronggrowth this year, with customs-cleared value of exports amounting to 173billion USD in the first seven months of the year, a rise of 11.5% over thesame period last year. Imports also rose by 21.4% to 183 billion USD, resultingin a trade deficit of 9.91 billion USD.
The ministry expects exports will expand well amid globaleconomic uncertainties by diversifying markets. Moreover, globaldemand for food and agricultural products has continued to grow and Thailandremains a strong producer and exporter.
Supporting factors include the depreciation of the baht,decreasing freight rates, an increase in the number of shipping vessels andcontainers, and a downward trend in global energy prices, which will lowercosts and enable exporters to compete in the global market.
However, inflationary risk and interest rate hikes intrade partner countries as well as geopolitical conflicts may pressure thesupply chain worldwide and will have to be monitored, said Jurin.
The ministry is also planning to form deeper tradepartnerships through mini-free trade agreements (mini-FTAs) with target citiesand provinces in foreign countries.
In the remaining months of this year, the ministry isscheduled to sign mini-FTAs with Gyeonggi province of the Republic ofKorea and Shenzhen and Yunnan of China.
The ministry previously sealed five mini-FTAs with Japan'sKofu city, China's Hainan and Gansu provinces, India's Telangana state, andBusan of the RoK./.
VNA
