Thai exports to grow 4 per cent in 2021, says The Ministry of Commerce

The Ministry of Commerce said this week it expects Thai exports in 2021 to grow 4 per cent, rising from this year’s contraction due to negative factors amid the COVID-19 epidemic and anticipated 2020 full-year exports to decline 7 per cent. 

Jurin Laksanawisit, the commerce ministry commented that Thailand has seen reasonable exports compared to other countries which were affected by the outbreak.

“Thailand’s exports have witnessed a recovery on a monthly basis, with figures expected to see only 7 per cent of contraction for the full 2020,” said Jurin.

Meanwhile, the country is expected to see an export growth of 4 per cent in the next year, he added.

However, the minister said the export situation in the border area is the most urgent task as some have been halted by the closure of certain checkpoints to prevent the spread of COVID-19. 

“In October, the border trade between Thailand and Myanmar was down 40 per cent, 21 per cent for Laos, and 17 per cent for Cambodia” Jurin explained.

The Ministry of Commerce also aims to organise around 343 marketing projects, in which 135 of them will be held inside the country while the other 208 are foreign programs. 

Jurin added that the ministry is looking forward to advancing free trade agreement (FTA) talks with several potential partners, including the European Union (EU), the UK, the Eurasian Economic Union (EAEU) and the European Free Trade Association (EFTA).

Co-payment extension 

The second round of co-payment scheme has been approved by the Centre for Economic Situation Administration (CESA) for 5 million people with 500 baht extra subsidy increasing from the first round.

The cabinet meeting also approved a budget of 43.5 billion baht to finance additional stimulus plans through the state welfare card scheme for 14 million low-income earners during January to March. 

The government said the scheme was set to boost domestic consumption and give a New Year gift for local tourism.

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