- Category: Business
- Published on Saturday, April 09 2011 04:30
- Written by Rod Hughes
- Hits: 689
The Bangkok Post reports that exports from Thailand to Costa Rica and Panama may rise sharply due to an intense promotion campaign by the Far Eastern nation.
Ten memoranda of understanding have been signed between Thai companies and the Thai Chamber of Commerce with their Costa Rican counterparts.
Both countries hope that trade will rise $50 million dollars from the $126.9 million of last year. Costa Rica hopes that trade may become a bit more balanced: last year this country exported $50.47 million against Thai imports of $84.13 million.
Panama is even further along with development of trade with Thailand. During a state mission to Panama last month, Thai merchants and their Chamber of Commerce signed 15 agreements with Panamanian entrepreneurs.
Panama-Thailand trade amounted to $233.68 million last year and Thai businessmen hope that the agreements will generate another $100 million this year.
Thailand has another reason to look with hope on Panama--that country is investing $5.2 billion to expand the Panama Canal, a move which Thai exporters hope will decrease their shipping costs when the work is complete in 2014.
Many Thai exports currently go to South America's nations on the Atlantic Ocean such as Brazil and Argentina via Peru, but Thai sources say that freight is costly.