New hub plan to lift exports

With the global economy likely to slow this year, the Commerce Ministry has launched a new local-regional hub plan to increase the ability of local enterprises to go international, so as to maintain export competitiveness and achieve export targets.

The ministry's target is 12.5-per-cent export growth or a value of US$145.9 billion (Bt5.17 trillion) this year.

Though the ministry has not officially voiced export figures for January, they are estimated to reach $11 billion, a growth of 15 to 16 per cent, Commerce Minister Krirk-krai Jirapaet said yesterday.

He said that despite many negative factors, including the strengthening baht, the slowing world economy and oil-price rises, the government would aggressively boost exports this year and ensure sustainable growth.

Others negative factors such as uncertainty in politics, labor shortages and increasing non-tariff barriers will also affect growth.

At yesterday's meeting in Bangkok with 56 Thai commercial counsellors from around the world, Krirk-krai instructed them to launch a strategic plan to spur export growth.

The local-regional hub idea is part of the ministry's plan to increase export competitiveness among local enterprises.