Thailand To Become Auto Parts Hub In ASEAN

BANGKOK, April 26 (TNA) - The Ministry of Commerce is developing Thailand to become an automobile parts hub in the Association of Southeast Asian Nations (ASEAN) and to be one of the world's top ten automobile producers. Thai Deputy Commerce Minister Poom Sarabol announced the goals on Thursday, at Thailand Auto Parts & Accessories or TAPA Fair, jointly organized by the ministry's Department of Export Promotion and the Thai Auto-parts Manufacturers Association to showcase locally-produced auto parts and accessories. Poom said that the exhibition, foreseen to generate revenues for over 400 participating Thai firms of over 470 million baht, demonstrates Thailand’s potential to achieve the ambitious goals. The deputy commerce minister acknowledged that most auto-parts manufacturers who were affected by Thailand's flooding crisis late last year have resumed their production; so, he believed that Thai exports of auto-parts would keep growing, at about 10 per cent year-on-year this year, totally worth some 10 billion dollars. According to the deputy minister, his ministry is also developing Thailand to become a world top-ten automobile manufacturer, in preparation for the formation of the ASEAN Economic Community (AEC) by 2015. (TNA)