Thai exports to neighbouring countries may lose out to China
PHOTO: asia.nikkei.com
The director of the University of the Thai Chamber of Commerce’s Centre for International Trade Studies says Thailand risks losing the export markets of Cambodia, Laos, Myanmar and Vietnam (CLMV) to China within five years.
Aat Pisanwanich says that between 2004 and 2018, exports from ASEAN nations to China were 4.1 times higher and valued at US$194.54 billion, while exports within the ASEAN marketplace had fallen, with a significant drop observed in exports to the CLMV.
The Nation reports that during the same period, imports to the CLMV bloc from China were 17.6 times higher and valued at US$95.37 billion. China currently holds the largest market share in the CLMV, threatening Thai exports to those countries over the next five years.
Aat also warns that exports of Thai sugar, lime, fabrics and cement to Cambodia could drop within the next five years, along with exports to Laos that include cereals, flour, synthetic rubber, sugar, blankets, artificial flowers, artificial leaves, artificial fruit and carpets. Aat says Thailand needs to work on selling more to Laos or consider making it a manufacturing base for exporting Thai products to other countries.
Thai exports to Vietnam are also under threat. These include thread, woven clothes, synthetic fibre, lobster, shrimp, wood products, steel, corn, leather, household tools, travelling bags, tea, coffee, lead plates, shells, electric containers, dried fruit, chemicals, concrete, sugar, cassava, batteries, sparkler products and matches.
Exports from Thailand to Myanmar that are at risk include liquor, sauces, seasonings, powder, clothes, grain, tyres, paper, utensils, fish products, spoons and forks.
SOURCE: The Nation
Aat Pisanwanich, director of the University of the Thai Chamber of Commerce’s Centre for International Trade Studies – The Nation
