Issue 69
The Ministry of Commerce (MoC) expects Thailand’s exports to grow by 5 to 6% in 2017, up from its original forecast of 5%. The country’s exports in the first seven months totalled US$130 billion, up 8.2% year-on-year, the highest growth in six years.
“In the last five months of this year, there are several positive factors supporting the country’s exports, including the recovering economies of the key trade partners, increasing global demand, and rising prices of agricultural and industrial products,” Pimchanok Vonkorpon, the Commerce Ministry’s Trade Policy and Strategy Office Director-General, said at a press conference on August 23.
“We will monitor other factors, including the movement of the baht, trade policies of major countries and interest rates to adjust our export promotion policies if needed.”
Issue 68
The DITP took leading Thai businesses to the Czech Republic and Poland in June to explore business and investment opportunities in these countries, DITP Director-General Malee Choklumlerd said on June 27.
“In the Czech Republic, Thai enterprises are interested in investment in several potential sectors including automotive, nano-technology and hotels. Meanwhile, they see Poland as a capable production base in Europe because the country has a pool of skilled labour and competitive production costs,” Choklumlerd said. “Poland also proposes to establish a Trade and Investment Office of Poland in Thailand by 2018.”
Issue 68
The DITP organised a trade delegation to Colombia, Costa Rica and Peru from June 11 to 22. Twenty Thai enterprises in agricultural products, food and industrial sectors met with new business partners in these countries, resulting in purchasing orders worth US$10.1 million in a year.
“The Latin America region is a potential export market for Thailand. Thai enterprises are satisfied with the business matching outcome.The most popular products for these markets included processed fish, coconut milk, snacks, sauces, lock keys, freezers, water pumps and automotive parts,” DITP Director-General Malee Choklumlerd said.
Thailand’s exports to Latin America during the first five months of this year amounted to US$3.13 billion, a 4.6% growth. Thailand imported US$1.87 billion worth of goods from Latin America, a 9.69% increase on the same period in 2016.
Issue 68
The Thai Trade Office in Hong Kong and AEON Hong Kong jointly hosted a Thai Food Festival across 12 AEON stores in June to promote Thai products.
“This year, the organisers selected more new Thai products including health, halal and OTOP products to sell at the fair. The top five best sellers were durian, snacks, beverages/fruit juice, rice, and frozen and chilled food,” DITP Director-General Malee Choklumlerd said on June 29. “New products with the highest sales growth were canned coconut water, dried fruits, ready-to-eat salad and banana products.”
“A survey of global consumer’s shopping habits showed that Hong Kong topped the charts in terms of online and offline shopping growth while consumers in many markets such as Japan, South Korea and Germany have reduced their shopping. Therefore, the DITP encourages Thai businesses to expand their online and offline distribution channels in order to reach Hong Kong,” DITP Hong Kong office executive director Wittayakorn Maneenetr said.
Issue 68
Dairy-free ice cream and other new ice cream recipes including almond milk ice cream and organic ice cream have seen a rapid growth in Canada, the Thai Trade Office in Toronto reported on July 11.
“Thai entrepreneurs should introduce new ice cream recipes to this market especially coconut ice cream as coconut products are very popular among consumers in North America. Other ice cream flavours such as Thai fruits and Thai desserts also have positive prospects in this market,” DITP Director-General Malee Choklumlerd said.
“When purchasing ice cream, Canadian consumers are concerned about the flavour and ingredients. They prefer premium ingredients and something new,” added Thanakrit Luangasnathip, Consul (Commercial) in Toronto.
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