Commerce Ministry: Exports start suffering as political impasse persists

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BANGKOK, 30 Jan 2014 The Commerce Ministry indicated that the political impasse begins posting threats to local exports as some trading partners start making product orders from rival countries.

Permanent Secretary for Commerce Srirat Rattapana stated that the export situation would be worsened should the political situation do not improve soon. She also said that there are other risk elements to Thailand’s exporting sector such as the fluctuating baht value and the subsequent rise in production cost.

Nonetheless, the Commerce Ministry has instructed commercial counselors at Thai embassies worldwide to clarify the current political situation in Thailand and boost foreign trading partners’ confidence by reassuring them of Thailand’s capacity to deliver goods despite the negative political factors.

In addition, the ministry has plans to promote exports by hosting a few more trade exhibitions in the country during February to April. Surveys will also be launched among Thai exporters and trading partners to find out their obstacles and enable the ministry to address the problems.

The Commerce Ministry still maintains the export growth target this year at 5%, Ms. Srirat added.