Potential Seen For Thai Food Industry In AEC

BANGKOK, April 19 (TNA) - The Thai food industry is foreseen to have potential in the ASEAN Economic Community (AEC) once the regional integration is established by 2015. When assessing the prospect, Phet Chinabutr, Director of the National Food Institute (NFI), said on Wednesday that the Thai food industry remains strong in terms of supply of raw materials, as well as quality and production standards of Thai food products although local wages are now higher than those in neighbouring Cambodia, Laos, Myanmar and Vietnam. Phet acknowledged that Thailand has both opportunities and threats for the national food industry in the AEC, suggesting that local manufacturers develop new and interesting products, add product values, promote brands and expand to promising neighbouring markets, namely Singapore, Brunei and Malaysia where there are high purchasing power. Meanwhile, the NFI plans the Thailand Food Forward Project to increase the economic value of local small and medium-scaled food producers, as well as to expand and to strengthen their production networks and supply chains. The NFI will also push for solutions to trade barriers and transportation development to better reach regional markets. The 10-member Association of Southeast Asian Nations (ASEAN) is Thailand's biggest food market and the destination of some 20.6 per cent of Thai food exports with their growing value in the region now totally estimated at about 199 billion baht annually, followed by Japan. Main Thai food exports include rice, sugar, tapioca, beverages, fresh fruits, non-dairy creamer and cracker, with their exports last year totally amounted to 33.25 million tons worth 964.5 billion baht. (TNA)