BANGKOK, 4 February 2015 – The Ministry of Commerce (MOC) aims for an export growth target of 4 percent this year through the penetration of four major markets while admitting the target will be vulnerable to several factors, said the spokesperson.
The MOC Spokesperson Duangkamol Jiambutr has revealed the 2015 export promotion measures with a growth target of 4 percent. The MOC will be segmenting the international market into four categories in order to facilitate export differentiation measures that will be tailored to different market types.
The international market now includes the high economic development group, the medium economic development group, the Latin American and Middle Eastern market and the low economic development market.
The high economic development group includes the United States, European Union and Japan. The medium economic development group includes China, India, South Korea and Russia. The low economic development group will include African, South Asian countries, and the ASEAN market.
The MOC Spokesperson identified the different strategies Thailand will be pursuing for each market category. Thailand will be able to increase the export of some products for the high economic development group market. Targeting potential buyers due to The large population of the medium economic development group markets will allow Thailand to target potential buyers in the subordinate cities of this market group. The ASEAN market can be penetrated instantly, while the other low economic development market can be a valuable source of materials for Thailand.
However, the MOC Spokesperson admits that will be a number of factors that can disrupt the designated export target. Adapting strategies accordingly to each situation in order to achieve Thailand’s export target will require research and specific details.
The MOC is also considering to adapt the ‘Mae Sod Model’ to increase export value and to start an integration of the factory construction, employment, and infrastructure development processes. Entrepreneurs are encouraged to invest in the area, which will help expand the trade value by 200-300 percent.