Thailand’s export forecast 5-percent growth in 2022
Thailand's exports are forecast to grow by 5 percent this year, at the low end of a previous prediction of 5-8 percent growth, said the Thai National Shippers' Council (TNSC).
Bangkok (VNA) - Thailand's exports are forecast togrow by 5 percent this year, at the low end of a previous prediction of 5-8percent growth, said the Thai National Shippers' Council (TNSC).
The TSNC attributed the low prediction to uncertainty over the Russia-Ukraine conflict,a shortage of raw materials and volatility in their prices, as well as higherlabour costs.
TNSCChairman Chaichan Chareonsuk said the group has been closely following andevaluating the impact of the Russia-Ukraine conflict and the trade andfinancial sanctions imposed by the US and EU, which are expected to greatlyimpact the global and Thai economies, especially in terms of rising productioncosts due to higher prices of raw materials and energy.
Purchase orders from Thailand's key trading partnersare expected to slow because of the conflict, he said.
"As long as the fighting remains limited between the two countries and theforeign exchange rate stays stabilised at an average of 33 baht to the [US]dollar, the council expects Thai exports to grow at 5 percent for the wholeyear," Chaichan was quoted by the Bangkok Post newspaper as saying.
Exports are likely to increase by 8 percentyear-on-year in the first quarter, up from 5 percent in the earlier projectionand by 2 percent to 4 percent in the second quarter, he said.
In 2021, Thailand's exports jumped 17.1 percent. In the first two months ofthis year, the country’s exports rose by 12.2 percent to 44.7 billion USD, withimports surging 18.7 percent to 47.1 billion USD, resulting in a trade deficitof 2.4 billion USD./.
The China-Laos Railway has enhanced connectivity between China and Southeast Asian countries, with Thailand hoping to export more agricultural products to China through the rail route.
The Thai cabinet has approved an extension of a 25 percent corporate tax exemption for bio-plastic companies in order to promote Thailand as a biological hub of the Association of Southeast Asia Nations (ASEAN).
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Photo: NNT) 
