CLMV markets have bright prospects

BANGKOK, July 2 (TNA) - Amid financial crisis in euro zone, the Kasikorn Research Centre (KRC) suggests that Thai exporters should widen markets in neighbouring countries of Cambodia, Laos, Myanmar and Vietnam (CLMV). Positive factors for Thai exporters are that the CLMV countries have borders connected with Thailand, are expected to widen their markets in future, says KRC, adding that per capita income and service businesses such as tourism in these countries would sustain growth; So they would demand more Thai goods in future. Because of these positive factors, KRC forecasts that Thailand’s exports to CLMV may grow about 20 per cent, enabling the country to earn 18.7 billion U.S. dollars in 2012 which could drive the kingdom’s total exports worldwide to grow approximately 10 per cent amid continued debt crisis in Eurozone. Lingering financial crux in eurozone is expected to depress overall economy in member countries to either suffer contract of 0.8 per cent or growth of only 0.2 per cent, KRC says. In case that the situation in eurozone deteriorates and causes Thailand’s export to contract, exports to the country’s neighbouring countries including Myanmar, Laos and Cambodia are projected to continue growing but may be lower than the forecast due to demand for Thai goods. According to Customs Department, Thailand’s exports to CLMV during the first five months this year grew sharply by 16.1 per cent compared to corresponding period of 2011. The country’s overall exports between January-May 2012 declined 1.5 per cent, notably to eurozone which dropped 11.8 per cent. (TNA)