Thai government to assist strong baht-affected businesses

BANGKOK, April 19 (TNA) - The Thai government will initially spend some 400 million baht to assist local business operators affected by the strong baht currently. Acknowledging that the strong baht has affected Thai exports, Commerce Minister Boonsong Teriyapirom told journalists on Friday that the Thai government is now compiling information from several concerned agencies before implementing the measures to assist the affected businesses. Boonsong said that his ministry will hold a meeting with the local private sector on April 26 before issuing the measures, insisting that the Thai government will initially spend about 400 million baht, allocated from the export promotion fund, to help the baht-affected business operators, covering supporting their overseas roadshows or trade fairs. Although several government agencies have already revised down Thailand's export growth projection this year, following the appreciation of the Thai baht, with the Bank of Thailand (BOT) having, for instance, lowered the national export growth to 7.5, from 11 per cent, the commerce minister affirmed that his ministry has maintained the country's export growth at around 8-9 per cent. According to the commerce minister, his ministry may revise Thailand's export growth projection for 2013 after a meeting with Thailand Trade representatives based in foreign countries, set to be held in late May. By Friday afternoon, the Thai currency weakened slightly against the US dollar, as it stood at 28.67 baht a US dollar, compared to 28.65 baht against the greenback on late Thursday. The Thai commerce minister's remarks followed his inauguration of the “BIG+BIH April 2013”, the 35th of its kind, being held at Bangkok International Trade & Exhibition Centre (BITEC) in the capital’s Bangna area from April 19-23, in which some 600 firms participate to showcase and sell their gift and home decoration products, as well as office equipment and materials and kitchenwares. The five-day event, expected to generate up to about two billion revenues to the participating firms and to attract at least 80,000 visitors, is divided into two parts, the first set from April 19-21, when relevant firms hold their business talks, and the second set from April 22-23, when retail sales are opened for international visitors. (TNA)