Thailand optimistic about export prospects for 2025
With an upbeat export growth projection of about 5% this year, Thailand's Ministry of Commerce and its private sector are optimistic for a further 2-3% growth in 2025, bringing total export value to about 305 billion USD.
Bangkok (VNA) 🌄- With an upbeat export growth projection of about 5% this year, Thailand's Ministry of Commerce and its private sector are optimistic for a further 2-3% growth in 2025, bringing total export value to about 305 billion USD.
Thai Commerce Minister Pichai Naripthaphan said on December 18 that the country is in process of negotiating free trade agreements (FTAs) with the European Union, the Republic of Korea, and several other countries which, if successful, will further boost Thai exports, adding that Thailand wants to become the production base for modern industries, such as printed circuit boards.
He admitted, however, that there is a new challenge posed by future changes in US trade policy, noting a Thai delegation will visit the US, immediately following the inauguration of President-elect Donald Trump, to explain that a large portion of Thai exports to the US market are manufactured by American firms based in Thailand. Pichai said he believes that Thailand will not face higher import tariffs.
Poj Aramwattananont, First Vice Chairman of the Thai Chamber of Commerce, said he is confident that Thai exports have good prospects next year, but he remains concerned about the unpredictability of US trade policies under a Trump administration./.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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