Thailand targets 5 per cent export growth

BANGKOK, Feb 21 (TNA) -- Overseas Thai trade representatives gather for a strategy workshop in Bangkok with an aim to push export growth this year to 5 per cent. The International Trade Promotion Department calls the meeting to discuss the country’s export promotion strategy among Thai trade representatives and private organisations. Deputy Prime Minister Somkid Jatusripitak told the meeting to promote exports with a new target of 5 per cent growth this year. Thailand relies heavily on exports as its growth engine. The total Thai export value last year stands at US$215 billion. Mr Somkid said not only public agencies private enterprises needed to contribute to the efforts in boosting international trading and penetrating potential markets. Accounting for 60-70 percent of the GDP, export was a key to economic recovery: good performance would translate to economic recovery and higher confidence in Thai economy, said Mr Somkid. In the meeting with 66 Thai trade officials from overseas posts, the Commerce Ministry also formulates plans for trade missions to target markets. Other items on the agenda include US President Donald Trump’s trade policies, the impact of the United Kingdom’s planned exit from the European Union, which expected to be effective in two years, and non-tariff barriers imposed by many countries. (TNA)