TPSO maintains Thailand's export growth projection in 2019 at 8%

BANGKOK, January 21 (TNA) - The Trade Policy and Strategy Office (TPSO), under the Thai Ministry of Commerce, has maintained its projection of the country's export growth in 2019 at about 8 per cent year-on-year. TPSO Director-General Pimchanok Vonkorpon told journalists of the decision on Monday although Thai exports grew by 6.7 per cent year-on-year in 2018, short of her ministry's earlier target of about 8 per cent year-on-year due to impacts from the ongoing trade war between China and the United States since the second half of 2018, including a drop in the country's shipments to both the immense Chinese and the US economies, as well as other economies that are also in the supply chains of China, namely Hong Kong, Taiwan and South Korea. Pimchanok said to meet the targeted figure this year, her ministry will help exploring new markets for Thai exports in substitution of the major Chinese and the US markets. Besides, her ministry will promote and support Thai business operators to produce higher value-added products, especially those in the food and advanced technological sectors, while supporting, on the other hand, more foreign direct investment (FDI) projects in the country to further develop Thai products for exports. The TPSO chief revealed that her ministry will also support accelerating talks on the Regional Comprehensive Economic Partnership (RCEP), a new potential free trade agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and the 10-member bloc's six dialogue partners to expand Thailand's exports. (TNA)