Brainstorming to boost exports, stabilise baht
By Petchanet Pratruangkrai
The Nation
Published on September 27, 2010
Seventy-six Thai counsellors based overseas will gather in Bangkok next month to come up with measures to stimulate export growth next year and address concerns about the strengthening baht, a second economic downturn and political conflicts.
Nuntawan Sakuntanaga, director-general at the Department of Export Promotion, said the department would hold a brainstorming session on boosting exports by at least 10 per cent next year, bringing Thailand's total export value above US$200 billion (Bt6.14 trillion).
However, she said, there were many risk factors waiting to dampen the Kingdom's shipment target next year, including the appreciation of the baht, the EU's economic stagnation, a second economic downturn in the US and local political conflicts. To ensure export growth, the Commerce Ministry is preparing to submit exporters' proposals to the Finance Ministry soon and seek measures to shoulder losses caused by the currency's appreciation.
The proposal resulted from a brainstorming session last week between the Commerce Ministry and exporters.
"Under the proposal, exporters want the government to impose capital-control measures to weaken the value of the baht as an urgent measure. After that the government should set up middle- and long-term measures to stabilise the currency," she said.
Other proposals that resulted from the brainstorming session included exporters being provided with soft loans, setting up a fund to help exporters affected by the unstable baht, stabilising interest rates and allowing exporters to pay freight costs in US dollars.