Thailand explores opportunities amid US-China trade war

BANGKOK, May 22 (TNA) - The Thai government, through the Ministry of Commerce, is exploring opportunities for the country's exporters amid the escalating trade war between the United States and China. Pimchanok Vonkorpon, Director-General of the ministry's Office of Trade Policy and Strategy Office (TPSO), told journalists on Wednesday that her office is looking into the 2S approach to deal with the escalating trade war between the immense Chinese and the US economies, including "Speed & Strategy". Pimchanok explained that under the 2S approach, remaining opportunities are being explored for Thai exporters although their market shares have been trimmed due to the escalating trade war between Washington and Beijing. Besides, plans are being worked out to help Thai exporters maintain their market shares in overseas markets that have been unaffected or less affected by the ongoing trade war between the two major trading partners. Pimchanok said her office is looking into the 2S approach to support Thai exporters in response to a drop in the total value of Thai exports by 1.86 per cent year-on-year during the first four months of 2019, or standing at about 80.54 billion US dollars, even though Thailand remained gaining a trade surplus of 549.5 million US dollars during the period. According to the TPSO chief, the planned 2S approach is also backed by the fact that there are about 1,500 items of Thai products that should be shipped more to the US market amid the US-China trade war, including food products, clothes and fabrics, foodwares, gems and jewelry, while Thailand-made electrical appliances, processed food and chemical products should be, on the other hand, shipped more to the Chinese market. The senior official conceded that Thailand's total export value must reach at least about 21.49 billion US dollars monthly during the rest of this year in order not to have the country's export growth lied on the red zone in 2019. The senior official revealed that Thai exporters will be invited for a meeting at the Ministry of Commerce on the outskirts of Bangkok on May 29 to discuss approaches to boost Thai exports, two days before another meeting with the same purpose between Thai Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, and the country's top commercial envoys stationed in foreign economies. (TNA)