ASEAN remains Thailand’s largest export market, accounting for 21 percent of its total trade value compared to the respective rates of 11 percent, 10.9 percent and 10.3 percent for the EU, the US and Japan, according to the Ministry of Commerce (MoC) of Thailand.
ASEAN remains Thailand’s largest exportmarket, accounting for 21 percent of its total trade value compared tothe respective rates of 11 percent, 10.9 percent and 10.3 percent forthe EU, the US and Japan, according to the Ministry of Commerce (MoC)of Thailand.
The ministry said on January 27 thatthe country’s exports to the remaining countries of the Association ofSoutheast Asian Nations (ASEAN) reached 1.1 trillion THB (36.3 billionUSD) in 2009.
According to Vichak Visetnoi, Director-General of the MoC’s ForeignTrade Department, Thailand’s exports to the ASEAN market, especiallyneighbouring countries, are forecast to increase by 20-30 percent inthe coming time.
The department plans to organise a series of promotional activities inLaos, Myanmar, Vietnam, Cambodia, Malaysia and Indonesia to boost tradeand investment now that the ASEAN Free Trade Agreement (AFTA) hasofficially taken effect as of January 1, 2010.
Visetnoi said that AFTA not only increases Thailand ’s total export value but also helps develop the regional economy./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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