Thai exports targeted to grow 15% in 2012

BANGKOK, March 13 (TNA) - Deputy Commerce Minister Poom Sarapol says despite impacts from rising world oil prices, Thailand’s exports in 2012 should expand by 15 per cent as earlier targeted, thanks to the country's strong fundamentals for an efficient production base and high demand for Thai products internationally. Poom acknowledged that his ministry is also finding new markets for Thai exports, including those within the 10-member Association of Southeast Asian Nations (ASEAN), in which Thailand is a member. The deputy commerce minister admitted, however, that Thailand’s exports would contract by 1-2 per cent in the first quarter of this year due to a temporary suspension of part of the country's production and other impacts from a flooding crisis late last year. According to the deputy commerce minister, Thailand's production should fully rebound to a normal track in the second quarter of this year. (TNA)