TNSC says Thai exports to sustain growth until Q2

BANGKOK, April 22 (TNA) -- Continued global economic recovery plus rise in oil prices, current tensions in Syria and the Korean Peninsula, and trade protectionist policy adopted by US President Donald Trump are expected to help Thailand’s economy to sustain growth until the second quarter, said Nopporn Thepsithar, Chairman of Thai National Shippers’ Council (TNSC). These worries and future uncertainty are projected to help the kingdom’s exports after goods exported in March is expected to grow 5 per cent, said Mr Nopporn. On volatility of foreign exchange, Mr Nopporn said it would prolong for a little while but majority of Thai exporters have already hedged forex risks. He asked minor entrepreneurs to also hedge their risks because President Trump’s trade and military policies would display impact on export this third quarter. Touching on the ongoing Sub-Commission on Trade and Economic Cooperation meeting between Russia and Thailand, Mr Nopporn said that Russia is considered attractive market and the Thai government should accelerate on trade negotiations with Russia in order to assist Thai businessmen. Thailand should not depend on trade links with the US or a certain group of countries, he added. (TNA)