Trade department preparing upmarket shift ro boost value of exports
July 21, 2014 00:00 By PETCHANET PRATRUANGKRAI THE 4,274 Viewed
THE INTERNATIONAL Trade Promotion Department is planning to promote Thailand as a manufacturing hub for many high-potential products in order to enhance the country’s image in the world market and boost exports.
Automobiles, electric appliances and food will be highlighted because Thailand has huge manufacturing capacity in those products and the products can improve the incomes of farmers and workers.
Director-general Nuntawan Sakuntanaga said last week that some markets do not know about the country’s capacity to supply goods.
The department will advertise each industry in many media in targeted markets, mainly emerging and new markets in Asia, Africa and Latin America.
The department will also produce informational brochures on each industry for launching door-to-door visits to importers.
For instance, the department will provide information about Thailand’s capacity to produce 2 million cars a year, its policy to promote the country as the Kitchen to the World and its status as the world’s leading supplier of many home appliances.
The country is also a major supplier of many farm commodities and seafood products
According to the department’s report, automobiles and parts account for 13.5 per cent of the country’s total exports by value.
Electric appliances, especially televisions, air-conditioners and refrigerators, account for 10.6 per cent. Farm commodities including fishery products and food account for 15.7 per cent.
Thailand is projected to drive exports by 3.5 per cent this year from US$228.53 billion last year.
The department aims to encourage enterprises to promote exports in the middle and upper-end markets. Since Thai products have higher production costs, companies need to increase export opportunities by focusing on high-quality products and designer goods.
The department can help firms find low-cost sources of raw materials. They can contact the department’s DITP Service Centre or 1169 hotline to ask for assistance on material sourcing. They will be able to get the information within two weeks.