Bangkok (VNA) – Thailand’s economy sawupbeat signs in the first quarter of this year with export turnover surpassing 62.8billion USD, up 11.3 percent year-on-year.
According to the latest statistics released by the Thai Commerce Ministry, thecountry’s exports fetched over 22.36 billion USD in March, an increaseof 7.1 percent compared to the same period last year. Its major export markets included the US, India and Southeast Asian nations. Commodities with high export growth were computer, petrol, plastic products and electronic chips.
In the January-March period, Thailand enjoyed a trade surplus of over 1.9billion USD.
Tourism is also a bright point in the Thai economic picture in the firstquarter. According to the country’s Ministry of Sports and Tourism, Thailandwelcomed 10.6 million international arrivals, earning 189 billion THB (6billion USD) in revenue, a year on year increase of 15.4 percent and 19 percentrespectively.
The Commerce Ministry also revealed that Thailand and Turkey are holding the thirdnegotiation round for the bilateral free trade agreement (FTA) from April 24-26in Ankara, Turkey.
Auramon Supthaweethum, head of the Trade Negotiations Department of the CommerceMinistry, this negotiation round will focus on customs procedures and healthcare service quality standards.
The FTA is expected to minimise trade barriers and expand investment opportunitiesfor Thai and Turkish businesses, allowing Thai companies operating in thefields of automobiles, electronics, plastics, rubber and home appliance toexpand their market shares in the European country.
Two-way trade between Thailand and Turkey hit 261 million USD in the first twomonths of 2018, up 11.4 percent against the same period last year.-VNA
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Thailand’s economy posted the strongest growth in five years in 2017 and is expected to maintain the outlook this year, driven robust exports and tourism.
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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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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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Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
Illustrative image (Source: thailand-business-news.com) 
