BANGKOK, Jan 25 (TNA) — The European Union’s withdrawal of its yellow card on Thailand’s fishing industry may help raise the country’s seafood exports to Europe by 0.0-2.0% this year, according to the Kasikorn Research Center.
Regarding the EU’s decision on Jan 8, the research center predicted that Thai seafood exports to the EU should grow for the first time in eight years. It estimated the exports at US$400-410 million, showing a growth rate of 0.0-2.0%, this year.
However, the center noted that Thai seafood exports faced challenges including obstacles related to tariffs, rising yields in competing countries, labor costs and baht appreciation.
The center also warned that concerned parties would have to watch out for trade protection measures and the economic conditions of the EU which might affect the behaviors of consumers.
It suggested operators develop their products to meet the demands of Europeans. (TNA)
