Meet with trade reps next week to finalise plan for 15% export growth

Commerce Minister Boonsong Teriyaphirom is scheduled to meet with 65 overseas Thai trade representatives next Friday (Feb 10) to finalise a plan to boost export growth to 15 per cent this year amid uncertain global economic growth.

Nuntawan Sakuntanaga, director-general of the International Trade Promotion Department, said the minister would set an export target for each market to ensure total export growth of at least 15 per cent to US$263 billion (Bt8.12 trillion).

The plan will emphasise not only trading, but also investment and specific goods to capture more opportunities for Thai traders in each market, Nuntawan said. She added that the ministry would focus on both emerging and traditional markets such as the United States, assuming its economic recovery this year.

According the Thai Trade Office in New York, export from Thailand to the United States is expected to grow by 10-15 per cent this year, after last year's 19.2-per-cent expansion to $24.07 billion.

To drive export to the US, Somjin Plengkhum, senior director of the office, said that despite slowing growth in that country over the past few years, its economy was recovering. The unemployment rate has been reduced gradually, and consumer demand will also soon increase.

The US is still one of the major export markets for Thailand, accounting for 10 per cent of export value.

To penetrate the US market further this year, the office suggested that enterprises rely more on new media and online marketing. Somjin said traders should increase their use of mobile phones and tablet computers, as well as increase connectivity with consumers via social media, while relying less on traditional trading channels.

Currently, more than 250 million Americans use mobile phones, 80 per cent of the total population. Online trading has played a more important role for Americans' daily lives as their lifestyles have changed. Enterprises should also enhance trading channels via Internet and social networks as this would save logistical and marketing costs, Somjin suggested.

She added that to increase long-term trading opportunities, exporters should also focus on promotion of brand loyalty, as Americans tended to focus on high-quality goods and brand-name products.