BANGKOK, 2 Feb 2015, The private sector has proposed that the government make export promotion a national agenda, in order to better cope with the global financial crisis.
President of Thai National Shippers (TNS), Nopporn Thepsittha, said the TNS had submitted its suggestions on the issue to Prime Minister General Prayut Chan-o-cha. According to the association, Thailand needs to revamp her export strategies, saying the Herculean’s task should be the entire administration’s responsibility not just the Commerce Ministry’s.
Due to the global economic crisis, the TNS said this year’s export will be sluggish, revising its growth to 1.5 %, down from 2.5 % predicted earlier.
He said the 40% drop in global oil prices, which lowered oil exporting nations’ spending power, has caused Thailand as much as 6 billion dollars in terms of export value. The expiration of the nation’s Generalized system of Preferences ( GSP) granted by the EU and the currency fluctuation will also likely have adverse effect on Thailand’s export performance.