BANGKOK :Thailand’s export growth in March was higher than February’s 14 per cent annual rise, while tariff negotiations with the United States set for this week are expected to proceed positively, the commerce minister said on Monday.
Pichai Naripthaphan said exports, a key driver of the Thai economy, would continue to grow if the negotiations went well.
“I believe the outcome of the negotiations will likely be good and have a high chance of success,” he told reporters, citing the strong relationships between the two countries.
The tariff of 36 per cent placed on imports from Southeast Asia’s second-largest economy is among the higher rates imposed by U.S. President Donald Trump’s administration.
A delegation led by Finance Minister Pichai Chunhavajira will meet U.S. officials in Washington on April 23, to seek lower tariffs.
The United States was Thailand’s largest export market last year, accounting for 18.3 per cent of total shipments, or $54.96 billion. Washington has put its deficit with Thailand at $45.6 billion.
Thailand’s March export data is due to be released on April 24.
