BANGKOK, 29 March 2013 The Federation of Thai Industries believes Thai exports in March will be as low as February’s figure due to the continuation of the strong baht and the 300-baht-minimum wage policy.
The FTI expects the export figure in March to decline because foreign importers could not afford to buy the same amount of Thai products at the same price that they used to. Apart from the baht strength that has an impact on the export figure, Indonesia is, as well, imposing non-tariff barriers against 13 Thai fruits, and the Commerce Ministry is now trying to negotiate with Indonesia regarding the matter.
The FTI also expressed its confidence that if the Thai currency continues to stay strong in the second quarter of 2013, Thai exports will plummet. It suggested that the central bank should intervene and take over the situation before it gets worse.
FTI members believe that the government’s 2-trillion-baht project will enhance Thailand’s competitiveness, especially in the logistics area where Thailand desperately needs in order to build confidence among foreign investors.
