Thai officials are concerned that the country's export drive is not going as well as they originally forecast.

The head of Thailand's Customs Department is nevertheless hopeful that the country will see a substantial increase in exports over the next few years with a commensurate increase in letter of credit (L/C) transactions.

Revised growth

Director General Chavalit Sethameteekul says the Customs Department is poised to revise its export growth estimate after July data showed the country's exports expanded by a disappointing 5.9 per cent.

Chavalit said several state agencies, including the ministries of commerce and finance, were monitoring and re-estimating their export growth projections and called on state agencies to seek the opinions of exporters to find out how the authorities could stimulate export growth.

ASEAN boost

The customs chief is particularly keen to boost exports to neighbouring ASEAN countries, with which Thailand writes between US$6-9 billion of trade each year.

Chavalit wants to see improvements to physical infrastructure, such as bridges and railways, that would facilitate the flow of Thai exports to China, Vietnam, Myanmar and beyond.

If these improvements are made, he says he sees potential for L/C border trade to double or even triple over a five-year period.

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