Thai exporters urged to focus more on new markets

BANGKOK, July 14 (TNA) - Amid euro zone economic woes which might impact Thailand, Deputy Prime Minister and Finance Minister Kittirat Na-Ranong says it is still unnecessary to establish a special fund to assist exporters and urges them to penetrate more on new markets including African and Eastern Europe countries. Kittirat said during weekly television programme of the prime minister on Saturday that four state-run banks plus several agencies are now helping exporters should they encounter problems. The four banks are Export-Import Bank of Thailand, Small and Medium Enterprise Development Bank of Thailand, Government Savings Bank, and the Bank for Agriculture and Agricultural Cooperatives. These banks plus several other agencies are prepared to help Thai exporters, Kittirat said, adding that it is still not necessary to set up the special fund because there is a mechanism to provide assistance to troubled exporters. Thai exports to East Asia and fellow member countries in the Association of Southeast Asian Nations (ASEAN) are still growing although, some of these countries have reduced their growth target, the deputy prime minister said. Kittirat also said Thailand needs to focus on exporting more to new markets including Africa and Eastern Europe, especially the latter of which several countries are enjoying higher employment and purchasing power. He said Thai ambassadors who are ‘Thailand Team’ chiefs based in Eastern Europe, ASEAN, ASEAN plus three which include China, Japan and South Korea and the rest of the world will hold a meeting in early August to discuss ways to penetrate the new markets in a bid to boost the country’s exports. (TNA)