The business sector has revised down Thailand's 2015 export outlook for the second time, expecting shipments to grow by only 1% rather than the 3.5% predicted earlier.
The latest forecast is due largely to bearish demand from major importing countries at a time when Thailand's competitive advantage is weak, according to the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).
Chairman Supant Mongkolsuthee said the economies of major trading partners including Japan, European countries and the US had yet to fully recover.
Exporters should to try to penetrate new markets with greater purchasing power, including Asean countries, India and China, as well as try to increase their competitiveness, the committee suggests.
However, the JSCCIB is maintaining its 2015 economic growth forecast at 3.5%.
Mr Supant said it planned to promote some Thai products on the world market, especially sectors with strong potential such as food, health care and health products.
He said the JSCCIB also expected domestic consumption to slow this year despite the government's attempts to stimulate the economy via infrastructure projects.
"Although the government has kicked off many projects to stimulate the economy, the process to approve such projects was very slow, as local authorities were concerned that they would be charged with corruption if there were complaints or investigations later," Mr Supant said.
Even small projects worth 10-20 million baht were delayed by such concerns, he said.
Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said business leaders will meet Deputy Prime Minister MR Pridiyathorn Devakula tomorrow to seek measures to promote exports and add more competitiveness to exporting firms.
"We would urge the deputy prime minister to seek ways to help business, such as by creating more stimulus packages that would boost exports in the second half," he said.
Business leaders and MR Pridiyathorn will discuss other measures to boost the economy, including crop zoning and a small biomass power plant of around 10 megawatts in the deep South.