Private sector sees export growth rising by up to 3.5 per cent

A peak grouping of private-sector financial organisations has raised its forecast for this year’s export growth to 2-3.5 per cent amid a pick-up in the global economy. But the Joint Standing Committee on Commerce, Industry and Banking warns that uncertainties over the trade policies of the United States remain a major risk. Still, the private sector was encouraged by a more positive view emerging on US-Thai trade after US President Donald Trump phoned Prime Minister Prayut Chan-o-cha and invited him to Washington. Predee Daochai, chairman of the Thai Bankers’ Association, said the JSCCIB at its last meeting agreed that the economy was expected to stage a recovery this year in line with the improving global economic conditions, despite the risks from an unclear US trade policy and a reduction in the US deficit.

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