Thai exports seen as unaffected by economic woes in the US and Europe

Thai exports seen as unaffected by economic woes in the US and Europe

The Federation of Thai Industries has allayed Thai exporters’ worries over economic meltdown in the US and Europe, saying it has prepared plans to cushion the impact.

The Federation revealed that it had been monitoring the situation in the US and European countries, particularly Portugal, Greece, Italy and Spain for three years now. At the same time, it had also penetrated new markets, such as the Middle East, and Russia.

Export to Japan, which was sluggish due to the Tsunami, was picking up and almost returned to normal.

The Federation believes that exporters in the central region would remain safe from economic woes in the US and Europe for the time being, as consumption demand during Christmas would push up purchase orders from the two continents in the fourth quarter.

However, the Thai baht, which tends to be stronger than other currencies in Asia, may affect the country’s competitiveness. The Federation suggested that the government peg the baht value and improve the country’s logistics to lower production costs.
 
BANGKOK 2 October, 2011 (NNT) - Reporter : Nuttaporn Chanchokpong
     News Date : 02 October 2011