Thailand hopeful to boost auto parts & accessories exports in 2012

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BANGKOK, 27 April 2012  – Thailand is eyeing to push for further growth in the auto parts and accessories exports after most factories have emerged from last year’s severe flood crisis. 

Deputy Commerce Minister Poom Sarapol commented that the Thailand Auto Parts & Accessories (TAPA) 2012 event, which opened on Thursday, will likely draw more than 470 million baht in revenue to the country.

The Deputy Commerce Minister said that a number of new potential buyers from ASEAN, South Asia, Japan, Taiwan, Australia, Africa and EU are expected to make a visit and meet with participating Thai and foreign entrepreneurs at TAPA 2012, which will run until April 29th.

He said that, in 2012, the Commerce Ministry hopes to boost auto parts and accessories exports to more than 13 billion dollars and over 10 billion dollars, which represent an on-year growth of 8.9 and 10 percent, respectively.

Last year, Thai auto parts and accessories exports registered a combined value of 22 billion dollars, or around 12.3 billion dollars for parts and about 9.7 billion dollars for accessories, according to Mr. Poom.

The Deputy Commerce Minister went on to say that the target growth rate for these exports will likely be achieved as the government is working hard to boost the efficiency of SME operators and to help business operators that are struggling with the problems of rising costs.

Moreover, he believes that Thai auto parts and accessories sector will continue to grow, now that the industry, which has been hit hard by the worst flood crisis Thailand has seen in decades, is getting back on its feet.