BANGKOK, 25 November 2014 – The Thai Chamber of Commerce warns that Thai exports to China might be affected by the neighboring countries in ASEAN after the ASEAN Economic Community (AEC) comes into force. Rice, electrical appliances and textiles are expected to feel the impact the most.
An academic from the Center for International Trade Studies of the University of the Thai Chamber of Commerce said Cambodia, Laos, Myanmar and Vietnam would likely steal the market from Thailand in the next five years, decreasing Thailand’s export value to China to 117 billion baht. The country would export less rice and seafood to China by 14.6 billion baht and three billion baht respectively, said the academic.
However, some exports from Thailand are expected to reap benefits from the AEC, including tapioca, rubber, fruits, processed food, wood and plastic.
The academic suggested that Thailand should improve the quality of its exports and increase their values rather than trying to compete with the neighboring countries in terms of price.
