Thai National Shippers’ Council concerns over Thai exports

BANGKOK, March 1 (TNA) -- Global sluggish in economy which has already affected Thailand’s exports in January has worried the Exporter Council that the country’s exports in 2016 would grow between 0 – 1 per cent only, said Vallop Vitanakorn, vice chairman of Thai National Shippers’ Council. Thailand’s exports, according to the Commerce Ministry, suffered contraction as high as 8.91 per cent in January, a decline for 13th consecutive month and the lowest in the past five decades. Principal countries which import Thai goods including the US, Europe, Japan and China are encountering economic problems while the situation looks worsening because of long holidays in China due to Chinese New Year celebrations in February, said Mr Vallop. Exports by Thailand in February and March could decline by as much as 5 per cent while the Thai National Shippers’ Council expects that the country’s exports could contract 4.5 – 5 per cent during the first quarter this year, he said. The situation is expected to improve during the second half this year and it is projected that exports in 2016 could grow between 0 – 1 per cent on the condition that average monthly export value from February to December would not be less than 18 billion US dollars, said Mr Vallop. Thailand’s exports would be greatly affected if the country fails in the fishing evaluation by the European Union, he said. The US plans to amend its law on banning imports of goods made by forced or child labour is another major factor which could affect fishery products, textiles, garments, shrimp and sugar industries in the kingdom. “The only way to help recovered Thailand’s exports is to undertake a national reform aimed at boosting them as proposed to the government earlier,” said Mr Vallop. These proposed measures include provide facility under the framework of the World Trade Organisation and to cater more trade in the form of electronic practices. (TNA)