Commerce Ministry to focus on domestic consumption stimulation

BANGKOK, 18 January 2010 (NNT) – The Ministry of Commerce will focus on its new strategy by stimulating domestic consumption more than relying on exports in a bid to push forward the Thai economy and trade this year.

Commerce Minister Pornthiva Nakasai elaborated that her ministry would restructure trade for more economic stability and sustainability this year according to the strategy of the ministry. She added that the country would be able to rely more on itself from instead of depending on exports.

The minister explained that important mechanisms would be improved for operational improvement such as quality of products and production capacity, extension of distribution channels, and efficiency enhancement for all levels of entrepreneurs.

Ms Pornthiva then foresaw that the Gross Domestic Product (GDP) this year would expand extensively due to the improving economy and export since last November. The 2010 GDP is expected to expand around 3-3.5%.