FTI: Export to ASEAN to expand 5-10 this year

Published on February 23, 2013 by TFP   ·   No Comments

BANGKOK, 23 February 2013 – The Federation of Thai Industries (FTI) has expected that the export of Thai products to ASEAN neighbors will increase by 5-10% compared to last year’s.

FTI Chairman Payungsak Chartsutipol said that Thai SMEs are getting stronger and ready to invest in other ASEAN nations once the ASEAN Economic Community (AEC) takes effect in 2015. He stated Thailand is having increasing trade surplus with nine other ASEAN countries.

Mr Payungsak believed that in 2013, the export to ASEAN will increase by 5-10%, adding that once the AEC takes effect, the export value will increase even more. Nonetheless, he urged Thai SMEs to prepare for influx of ASEAN entrepreneurs after the AEC, saying the foreign investors will come in with better technology and know-how.

Meanwhile, Deputy Permanent Secretary for Commerce Nanthawan Sakultanak stated that the ministry has been preparing the private sector for the integration by leading them to find business partners in neighboring countries and giving them information about investing in ASEAN, especially the CLMV countries or Cambodia, Laos, Myanmar, and Vietnam.

In 2012, the Thai-ASEAN trade was valued at 97 billion US dollars, or 20% of the Thai international trading value.

(NNT: Nuttaporn Chanchokpong)

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Article source: http://www.thethailandlinks.com/2013/02/24/fti-export-to-asean-to-expand-5-10-this-year/