The Thai Ministry of Commerce said on September 20 that the country’s exports dropped 4 percent in August from a year earlier after an unexpected rise in the previous month.
Hanoi (VNA) 𓄧– The Thai Ministry of Commerce said on September 20 that thecountry’s exports dropped 4 percent in August from a year earlier after anunexpected rise in the previous month.
Accordingly,customs-cleared outbound shipments fetched 21.9 billion USD in August, largelythanks to front-loading imports to avoid the imposition of the US tariffsstarting on September 1. Moreover,the uncertainty of trade disputes clouds the global economy, causing a slowdownin most of Thailand’s major trading partners, including ASEAN and South Asia. Fallingglobal oil prices suppressed exports of oil-related products and an oversupplyof agricultural products in the global market as well as baht appreciation arestill downside risks for Thai shipments. In the first eight months of this year,Thailand’s exports contracted by 2.2 percent to 166 billion USD. Director Generalof the Trade Policy and Strategy Office Pimchanok Vonkorpon said a variety ofchallenges, namely the global economic slowdown, a prolonged trade disputebetween the US and China, and baht appreciation casts a shadow over Thaiexports for the remaining months of 2019. She said theMinistry of Commerce set an export growth target of 3 percent, maintainingmature markets, expanding to new areas, and restoring trade with long-losttrading partners in the second haft of this year.-VNA
Patama Singhara Na Ayudhaya, Director of the Thai Trade Centre in Rome, has revealed that a marked downturn of the Italian economy should provide an opportunity for Thai canned food exports to penetrate the market with their affordable prices.
Thailand exported 3.4 million tonnes of rice in January-April, representing a year-on-year rise of 6.4 percent, the Department of Foreign Trade said on April 24.
Thailand’s automobile exports are likely to drop for a second straight year, after the sector has reported negative growth rates for 12 consecutive months, says the Federation of Thai Industries.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
Illustrative image (Photo: AFP) 
