Finance minister upbeat about export prospects

By k on August 21, 2009

BANGKOK, Aug 21 (TNA) – Finance Minister Korn Chatikavanij on Thursday voiced optimism about a turnaround in exports, saying that export figures had shrunk at a slower pace for three consecutive months and purchase orders from trading partners worldwide had risen.

He predicted the export situation would pick up in the second half of this year because economies of Thailand’s trading partners had begun recovering.

While many think tanks have forecast that Thailand’s exports will contract some 18-20 per cent this year, some believe the shrinkage will be only 15 per cent.

He said the Finance Ministry is ready to give assistance to the export sector through investment projects under the Thai Khem Keng (Stronger Thai) scheme.

Mr Korn said the ministry planned to use US dollars to buy raw materials, equipment and machinery as part of its efforts to prevent the baht from strengthening too much.

In addition, the ministry would provide help to exporters through the Export and Import Bank of Thailand (EXIM).

The practice, he believes, would help increase capital of EXIM so the bank could lend more and guarantee private sector exports. (TNA)

Finance Minister wants to see baht weaken BANGKOK, Aug 5 (TNA) – Finance Minister Korn Chatikavanij on...
Good export prospects for garments and textiles BANGKOK, 26 March 2010 (NNT) – There is a positive...
Finance minister denies opposition’s allegation on stock manipulation BANGKOK, June 17 (TNA) – Finance Minister Korn Chatikavanij on...
Finance Minister satisfied with GDP growth figure BANGKOK, 22 February 2010 (NNT) – Finance Minister, Korn Chatikavanij,...
BoT still upbeat about economic growth despite political turmoil BANGKOK, May 28 (TNA) – The Thai economy is likely...

Related posts brought to you by Yet Another Related Posts Plugin.

Readers Comments

Business News »

Loan clients urged to be well-prepared for higher finance costs

July 16, 2010

BANGKOK, July 16 – Loan customers, particularly small- and medium-size enterprises (SMEs), must have well-prepared business plans to cope with higher financial costs in the face of an upward interest trend, according to the Kasikorn Research Center (KRC), a leading Thai financial think tank. Kasikorn said that major domestic commercial banks had begun raising the [...]

Bank And Finance »

Commercial banks announce hikes in interest rates on fixed deposits

July 16, 2010

BANGKOK, 16 July 2010 (NNT) —Interest rates on fixed deposits and lending rates have been hiked by financial institutions following the hike in the policy rate by the Central Bank. Krungthai Bank has announced its fixed deposit interest rate hike of 0.25-0.35%, while key lending rates would be increased by 0.125-0.15%, effective today. Siam Commercial [...]

General News »

Summary of the 9th APEC Energy Meeting

July 12, 2010

Thai delegates led by Minister of National Resources and Environment, Suwit Khunkitti, along with international counterparts from 20 countries attended the 9th Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting in Fukui, Japan on 19 June 2010. During the summit, a speech on the “Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable [...]

Economy »

4 Govt agencies cooperate to promote Thai investment abroad

July 12, 2010

BANGKOK, 12 July 2010 (NNT) – The Office of Thailand Trade Representative (TTR) joins force with three financial institutions to promote Thai investments abroad, with operators in various business groups showing keen interest in the project. TTR along with SME Bank, EXIM Bank and the Government Pension Fund (GPF) announced their cooperation in credit support [...]

Energy »

Moody´s chops down PTT´s credit

June 29, 2010

BANGKOK, 29 June 2010 (NNT) – An international credit rating firm, Moody’s Investors Service, has lowered the creditworthiness of Thai petroleum giant PTT Plc from A2 to A3 with a negative outlook. Moody’s Investors Service has changed the local currency issuer rating for PTT Plc from A2 stable to A3 negative while the foreign currency [...]

Politics »

One month needed for Interpol consideration over Thaksin´s case

July 16, 2010

BANGKOK, 16 July 2010 (NNT) – A nod from the Paris-based international police intelligence-sharing association, Interpol, over case of self-exiled ex Prime Minister Thaksin Shinawatra should be known within one month. Police Maj-General Terdsak Rujirawong, Commander of the Royal Thai Police Foreign Affairs Division, said on Friday that an arrest warrant on terrorism charge issued [...]