Govt aims for ‘quick win’ to boost GDP
PUBLISHED : 18 Nov 2023 at 04:00
The government is stepping up efforts to boost exports as part of its “quick win” policy to revitalise the economy.
Government spokesman Chai Wacharonke said yesterday that Prime Minister and Finance Minister Srettha Thavisin has laid down a policy to turn the economy around by promoting exports in new overseas markets.
Thailand’s exports have been forecast to register positive growth in the final quarter, and growth is estimated at 1.99% next year with an estimated value of more than US$287 billion, the spokesman said.
The government has devised a plan to support and push for export growth, with Deputy Prime Minister and Commerce Minister Phumtham Wechayachai overseeing the plan’s implementation.
Measures will be taken to achieve “quick wins” by creating trade opportunities in new markets with high potential, such as China and the Middle East, while existing markets will be maintained through free trade agreement negotiations with trading partners, Mr Chai said.
The relevant agencies will work together proactively to promote products made by local communities globally via online and offline marketing, he said.
The government is also promoting the country’s soft power by using innovations and technology to increase the value of domestic goods and services such as Thai food, Thai boxing, and tourism, he noted.
Efforts have been made to integrate trade and tourism to increase retail outlets selling Thai goods on Thai Airways International flights, Mr Chai said.
He said plans are in place to push for a digital government and improve laws that pose hurdles to the export sector, as well as promote green industries and e-commerce.
Moreover, the government has drawn up a plan to upgrade cross-border checkpoints and set up one-stop service centres in seven provinces to facilitate cross-border trade and exports.
“The Commerce Ministry estimates the value of exports in the last quarter at about $25.7 billion a month while export growth is estimated to hit 1.99% next year with an estimated value of more than $287 billion,” the spokesman said.
“If things go according to plan, the trade volume will increase, which will help boost the economy and create jobs and generate income for Thais.”