The latest move by the US to suspend benefits under the Generalized System of Preferences (GSP) for Thailand, which comes into effect in six months, is not expected to affect local exporters much, but further trade protectionism by Washington may be on the horizon, say analysts. The US said last Friday it will suspend US$1.3 […]
Read MoreThe Finance Ministry’s Fiscal Policy Office (FPO) downgraded the country’s economic growth outlook this year to 2.8% from 3% in August in response to the expectation of a deeper export drop. The revision came despite a 316-billion-baht stimulus package to boost domestic demand and an additional stimulus approved last week. Exports are estimated to decline […]
Read MoreThe Commerce Ministry’s Department of International Trade Promotion has announced it will adopt seven measures to soften the impact of the US suspension of trade benefits for Thailand. Somdet Susomboon, the department’s acting director-general, on Monday said the department has prepared the seven measures to mitigate the impact of the US action which will see US$1.3 […]
Read MoreThe Myanmar Investment Commission (MIC) has approved Thai developer Amata Group’s proposal to develop a smart industrial estate project in Yangon Region. Amata Group is a Thai-listed developer headquartered in Bangkok known for its work on industrial estates. A meeting of the Myanmar Investment Commission on October 21 approved the development and operation of the […]
Read MoreThe Bank of Thailand is finding it tough to stop the baht from surging. The currency advanced as much as 0.3% on Friday to 30.187 per dollar, the strongest level since May 2013. That takes its gain to 7.8% this year, more than any of its emerging-market peers except Russia’s ruble. The gains have defied […]
Read MoreThe strong baht is expected to whittle down the revenue of Thai rice exports in baht terms by 30-40 billion baht, lowering shipments to 8-8.1 million tonnes this year. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said rice export prospects remain dim, with the baht making local grains more expensive than those […]
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