Thailand: Commerce ministry pulls out the stops to hike exports

  • To boost exports in the remainder of this year and early next year, Commerce Minister Jurin Laksanawisit vows to rev up delivery of goods for which purchase contracts have been signed and to promote business matching.
  • Mr Jurin said 35 memorandums of understanding for purchase orders worth a combined THB44.72bn and business matching deals worth THB26.24bn were signed after his recent visits to several countries. He hoped that the delivery of goods under the contracts already signed could be sped up within Dec 19 or early 2020.
  • According to Mr Jurin, speedy delivery is likely for rubber contracts with India and Turkey and rice deals with Turkey and Germany.
  • Sanan Angubolkul, a vice-chairman of the Thai Chamber of Commerce, has blamed the appreciatingTHB as the key factor hurting exports. In the Jan-Oct 19 period, Thai exports fell 2.4% y/y to USD207.32bn, compared to the Jan-Oct 18 period.
  • Western Digital, Seagate Technology and Toyota were asked to accelerate their shipments for early 2020.
  • An exporter group, the Thai National Shippers’ Council, puts export growth in 2020 at 0-1% y/y.

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