Deputy Prime Minister Somkid Jatusripitak is scheduled to lead a joint meeting with Thai commercial counsellors worldwide to map out the country's long-term strategic partnership plan, in a move to sustain Thailand's international trade growth.
According to Commerce Minister Apiradi Tantraporn, the meeting will be held next Monday with key agenda items including Mr Somkid's directives to boost Thai international trade, export evaluation, export targets in each region and a proactive push to stimulate exports.
In an effort to raise export growth to its 3% target this year, the government recently appointed leading business executives as regional advisers.
Chief executives from the private sector have agreed to act as advisers to help map out strategic plans for seven regions.
The seven targeted regions are South Asia; Africa and the Middle East; China; Japan, South Korea and Taiwan; Asean; Europe; and the US.
The leading executives include Thiraphong Chansiri, president and chief executive of SET-listed Thai Union Group Plc, the world's biggest producer of canned tuna; Jariya Chirathivat, executive vice-president of business development at Central Group; and Yuji Nakagawa, director of Toyota Tsusho, the trading arm of the Toyota Group.
The groups of business executives have broad global experience, notably in marketing and exports for small and medium-sized enterprises.
Trade fairs and business-matching activities will be included in the export development plan for each region.
Thailand's exports eked out marginal growth of 0.45% in 2016, ending three years of contraction.
Exports totalled US$215 billion (7.53 trillion baht) last year, with imports shrinking 3.9% to $195 billion.
Shipments to key markets including the US, EU, China and Japan rose, but Asean exports dipped 0.9% last year.
The Commerce Ministry set an export growth target this year of 2.5-3.5%, to fetch $221-223 billion.
The forecast is based on oil prices at $50-60 per barrel and a foreign exchange rate of 35.5-37.5 baht against the dollar.
The ministry aims to raise shipments to South Asia by 1% this year from $7.77 billion, Africa up 2% from $6.17 billion, the Middle East up 2% from $9.09 billion, and China and Hong Kong up 3% from $35.3 billion.
For Asean, it aims for growth of 2.8% from $32.4 billion, Japan up 3% from $20.6 billion, Taiwan up 3% from $3.36 billion, Europe up 1% from $22 billion, and the US up 3% from $25.8 billion.
According to Mrs Apiradi, risk factors that still need close monitoring include global oil prices, future trade measures which may engage more with social issues such environment and labour, and changing consumer behaviours.
Mrs Apiradi said raw material sourcing must be also traceable to bolster sustainability and support the long term growth of exports.