BANGKOK: Thai National Shippers’ Council projects exports to reach US$220 billion in 2016, as government policies to restructure the economy and trade strategies bring fruitful results.
The council predicts a contraction of 5% for exports in 2015, with total value of $216 billion, according to chairman Nopporn Thepsithar.
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He said Thai exporters should closely monitor external risk as the global economy might recover slower than anticipated because of the adjustment of the global financial system to the New Normal.
Regional conflicts and natural disasters are also factors that could affect global economic recovery and Thai exports, Mr Nopporn said.
He said Thai exporters would support the government joining the new US-led Trans-Pacific Partnership (TPP) agreement, to maintain the country’s attractiveness for investment and ensure that industries do not relocate out of Thailand.
TPP participation would help increase the competitiveness of Thai industries so they could hold their existing markets and not lose them to neighbouring countries, especially Vietnam.
In the meantime, Thailand should lead Asean members in pushing for the successful conclusion of trade agreements under the Regional Comprehensive Economic Partnership.
The RCEP is a proposed free trade agreement between the 10 member states of Asean and the six states with which Asean has existing FTAs: Australia, China, India, Japan, South Korea and New Zealand.
