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PUBLISHED : 29 May 2025 at 03:30
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Thai exports could increase by more than 4% in 2025, according to Commerce Minister Pichai Naripthaphan.
During a recent meeting with representatives from both public agencies and the private sector, Mr Pichai discussed strategies to transform challenges into opportunities for export growth in the second half of the year.
He said he was confident that export growth will exceed the initial target of 2-3%, as the first four months of this year saw gains of 14%.
The ministry now anticipates growth of more than 4% this year, said Mr Pichai.
To enhance exports, the government wants to encourage producers to integrate more local content into their offerings.
Mr Pichai said the government had had discussions with Chinese diplomats on potential joint ventures and discussed the increased use of local content with US companies.
Additional policies aim to broaden export markets, enhance confidence in Thai products, and open up new markets for key agricultural products such as rice and cassava.
Mr Pichai also called for prompt resolutions for agricultural products, the promotion of Thai Select restaurants, and efforts to position Thailand as a production hub for software, hardware, and printed circuit boards.
He said the government is actively negotiating new free-trade agreements (FTAs) with various partners including the EU, the UK, South Korea, and as part of a bloc like Asean-Canada.
He is scheduled to meet with Maroš Šefcovic, the EU commissioner for trade and economic security, on June 4 to expedite FTA negotiations with the bloc, with the goal of finalising the agreement this year.
The recent meeting with public agencies and the private sector also emphasised strategic plans to penetrate five key markets: the US, India, the Middle East, Asean and China.
Strategies discussed include utilising soft power to promote Thai products in premium markets, maximising the advantages of FTAs, and enhancing coordination between provincial commerce ministry offices and trade representatives abroad.
Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, said the private sector is ready to fully support the government’s efforts and to tap into new export markets.
As Thailand can offer a diverse range of products that cater to the demands of international consumers, he said it was essential for the government to accelerate FTA negotiations to unlock further opportunities for Thai exports.
Dhanakorn Kasetrsuwan, chairman of the Thai National Shippers’ Council, highlighted the importance of advancing a long-term “Trading Nation” plan to secure sustainable growth in Thailand’s international trade.
He expressed optimism that Thai exports could see growth of at least 3% this year.
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