BANGKOK, Jan 29 – Thai manufacturers of automotive parts today called on the government to cap Thailand’s baht currency at a minimum Bt30 against the US dollar to facilitate private sector imports and exports.
Atchana Limpaitoon, president of the Thai Autoparts Manufacturers Association, said the appreciating Thai baht has negatively impacted the automotive parts industry in negotiations with overseas traders, suggesting that the Thai baht be kept in tandem with other regional currencies.
Thailand’s export value for autoparts this year will be equivalent to last year at around Bt15 billion–80 per cent from original equipment manufacturers (OEM) designating replacement parts made by the manufacturer of the original part, and 20 per cent from general and replacement parts.
She said uninterrupted overseas orders has contributed to an expanding local autoparts industry while pickup trucks and eco cars are product champions that will continue to boost the growth of Thailand’s automotive industry.
Thailand exported 2.45 million vehicles last year – the seventh largest in the world – while its previous 13th rank as the world’s biggest automotive manufacturer has moved up to the 10th, she said.
Ms Atchana added that Thailand has emerged as auto manufacturing leader in the Southeast Asian region given its engagement in the industry for the last five decades.