Several Thai products, including pet food and rice, are poised to gain a larger market share in America amid escalating US-China trade tensions, according to the Thai Trade Policy and Strategy Office (TPSO).
New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry's Business Development Department.
Thailand exported over 1 million tonnes of fruit valued at 92 billion THB to China during the first half of this year, according to Thai government spokesman Thanakorn Wangboonkongchana.
Thailand's exports beat expectations by growing 16.2 percent in February, driven by higher international demand on the back of global economic recovery and proactive trade promotions.
The Thai Commerce Ministry has launched measures to increase rice exports to 6 million tonnes this year, valued at around 150 billion THB (4.83 billion USD), with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
Thailand’s cross-border trade, including transit trade, fell by 7.42 percent year-on-year in the first eight months, mainly attributed to the impact of the COVID-19 pandemic and a slowing economy.
Thailand’s exports declined by almost 23.2 percent in June compared to the same period last year, the strongest fall since July 2009, but the country’s Commerce Ministry still expects improvement in the second half of 2020.
Thailand's natural rubber industry is likely to remain depressed this year despite a sharp rise in demand for protective rubber gloves driven by the COVID-19 pandemic.
Thailand’s customs-based exports recorded an annual growth of 2.12 percent in April as a result of higher shipments of agricultural products, food and gold, according to the country’s Commerce Ministry.
The Thai Commerce Ministry has approved a farmers aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.
Officials of 16 Asia-Pacific countries have voiced their commitment to accelerating negotiations on the Regional Comprehensive Economic Partnership (RCEP) agreement with the hope of finalising it by November, according to a Thai official.
The Thai Commerce Ministry said on June 11 that the country will discuss with the European Union the impact of Brexit and restart negotiations on a free trade agreement (FTA) between the two sides at the 14th meeting of the EU-Thailand working group set for June 14 in Brussels, Belgium.
Thailand’s export of fresh, chilled, frozen, and dried fruit and vegetables in the first two months this year has grown from 2018 at 46.85 percent, expected to reach annual growth of 30-40 percent worth 4 billion USD.
Thailand’s exports in 2015 are forecast to drop at least 5 percent due to slow global economic recovery and fluctuating exchange rates between the baht and other currencies.
