Thailand's official export growth target in 2019 maintained

BANGKOK, February 25 (TNA) - The Thai Ministry of Commerce has maintained the country's official export growth target in 2019 at 8 per cent year-on-year despite remaining risk factors. Banjongjit Angsusingh, Director-General of the ministry's Department of International Trade Promotion, told journalists of the stance on Monday, stressing that her ministry will do the best to boost Thai exports later this year. Banjongjit made the remarks after holding a meeting with exporters of top 10 groups of Thai products at her ministry on the outskirts of Bangkok to discuss the country's export situation early this year and anticipated prospect later this year, in response to a shrink of 5.6 per cent year-on-year in Thailand's export growth last month. Banjongjit cited official statistics over the past couple of years as explaining that Thailand's exports normally face a seasonal slowdown in the first quarter of every year due to a drop in purchase orders during New Year holidays, but the country's shipments of goods to foreign markets normally start to pick up as of the second quarter of every year. Banjongjit acknowledged that exports of many Thai products, including food, textile and gems and jewelry, have remained sound and her ministry has, thus, maintained the country's export growth target in 2019 at about 8 per cent year-on-year although more efforts are needed in integrated attempts towards the targeted milestone. According to the senior Thai official, her department has gathered opinions and proposals raised by private exporters at the meeting held earlier in the day to be included in her department's export promotion plan in the first half of this year. Meanwhile, Sanan Angubolkul, Vice Chairman of the Board of Trade of Thailand, expressed his confidence in the country's improved export prospect later this year due to the close cooperation between the public and the private sector, saying that Thailand's exports grew by 6.7 per cent year-on-year in 2018 although the private sector forecast at about 5 per cent and the Ministry of Commerce targeted at 8 per cent year-on-year. Sanan cautioned, however, that the unstable Thai baht should be the most risk factor against the country's export growth this year, calling on relevant authorities to timely take action to keep the value of the Thai currency at its appropriate levels. Besides, Sanan mentioned, impacts from the unsettled trade war between the United States and China and a possible new minimum wage hike in the Thai economy become other risk factors against Thailand's exports in 2019. (TNA)