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15 September 2009

Thailand sees upturn in exports in 2010

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Thailand’s exports are set to turn positive next year, boosted by an increase in product demand following a gradual recovery of economies of major export destinations, state news agency TNA quoted commerce ministry’s commercial counselors stationed abroad.

However, they believed the economies of the export destinations including the United States, European Union (EU), and Japan would not grow rapidly because unemployment in these countries remains very high.

They see exports to the EU this year dropping by about 10-15 percent, but turning around and growing by 10 percent next year. For exports to the US and Japan, figures are being reviewed as a whole to get a clear picture of the export trend.

Umpawan Pichalai, commercial counsellor in Tokyo, said Thailand should upgrade its spa standards to comply with international recognition. Should the upgrading be successful, it would add the value of the Thai spas which are gaining popularity around the world, she said.

Banchongjit Ungsusingh, commercial counsellor in London, predicts that the EU economy will grow in a V-shaped pattern. Normally, EU members had given priority to products with a high standard of quality.

A number of products made in China, including furniture and foods, failed to meet the safety standards set by Europe.

So, it is a good opportunity for Thai products to position themselves in the EU market, but producers must give importance to safety standards as well.

Janthira Yimraewat, commercial counsellor in Los Angeles, said institutional markets including armed forces bases, prisons and schools in the US are considered major outlets that Thai entrepreneurs should not overlook because they have high potential growth.



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