Thailand's exports expected to grow by 5% in 2019

BANGKOK, January 8 (TNA) - The Thai National Shippers' Council (TNSC) says that the country's exports should further grow by 5 per cent year-on-year in 2019, on top of a 7-7.3 per cent year-on-year on average in 2018. TNSC Chairperson Ghanyapad Tantipipatpong announced the projected figures on Tuesday based on the assumption that the Thai currency would hover around 33.0(+-0.5) baht a US dollar in 2019. Ghanyapad told journalists that major positive factors to boost Thai exports this year include more confidence in the country and in Thai products during the Kingdom's chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2019 when the Kingdom is promoting regional agreements on more trade facilitations and a cut in trade protectionist measures. The TNSC chairperson, however, cautioned that there are remaining risk factors against Thailand's export growth in 2019, including impacts from the ongoing trade war between the United States and China, if persisted, the implementation of a free trade agreement (FTA) between the European Union (EU) and Vietnam, turbulences in Europe, unstable world oil prices and the, probably, stronger Thai baht due to the recent increase in the country's key interest rate from 1.50 per cent to 1.75 per cent. The TNSC chairperson proposed that the Thai government organize more trade missions to promote Thai products, explore new markets for Thai exports, reduce trade barriers in the region, speed up the negotiation and the conclusion on new FTAs and encourage private Thai exporters to explore their new potential importing markets. (TNA)