Trade agency ramps up global push

Trade agency ramps up global push

18 nations targeted for export promotion

The International Trade Promotion Department looks set to tap 18 target export destinations, beef up online channels, create new exporters, promote Thai brands and services, and apply artificial intelligence to develop trade information, all in a bid to increase shipments in the year to come.

Director-general Somdet Susomboon said the department is scheduled to send 16 trade missions to 18 countries led by the commerce minister to promote exports next year.

Trade targets for next year include traditional key markets like China, Japan, Germany, Britain and the EU, as well as new markets such as India, Turkey, Sri Lanka, Bangladesh and South Africa. Revivals are planned for the Middle East, Cambodia, Laos, Myanmar and Vietnam.

For large markets like India and China, the department will send trade missions to tap each province and state.

Mr Somdet said the department plans to hold export promotion activities and events to stimulate importers' demand for Thai products and ramp up online channels to build export opportunities for Thai products.

The department aims to enlarge the TopThai Flagship Store at the Tmall Global website to tap more Chinese buyers and expand partnerships with platforms like BigBasket (India's largest online food and grocery store), Amazon.com (US), Amazon.jp (Japan) and PrestoMall (Malaysia).

Mr Somdet said the department aims to develop new exporters in 2020, such as startups, ethnic groups and niche producers.

The department has already partnered with educational institutes to groom and develop potential students as new entrepreneurs and exporters in the longer term.

Mr Somdet predicts an export rebound next year, citing the decelerating trade war, Brexit clarity and the Commerce Ministry's export stimulus plans.

The department is scheduled to hold a joint meeting with commercial affairs officials and directors of Thai Trade Centers in 58 offices worldwide in February to evaluate next year's export target.

The Commerce Ministry reported in October that exports fell by 2.4% year-on-year to US$207 billion in the first 10 months of 2019, with imports declining 4.1% to $199 billion, yielding a trade surplus of $7.88 billion.

Last month, the National Economic and Social Development Council downgraded its export forecast for this year to a contraction of 2%, down from a 1.2% pullback, citing the trade rift and slower global economy and world trade, which were projected to expand by 3.1% and 1.5%, respectively, down from 3.3% and 3.4% in earlier projections.

The government think tank forecasts exports to grow 2.3% next year.

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