You are here
Home > Fun & Games > US-North Korea conflict keeps public and private sector worrying though not directly affect Thailand

US-North Korea conflict keeps public and private sector worrying though not directly affect Thailand

The Federation of Thai Capital Market Organizations says the US-North Korea conflict would not unduly trouble the Thai bourse because the country's economic foundation is sound, according to its chairperson Mrs Vorawan Tarapoom.

Besides, she said the value of the Baht has not appreciated significantly and correlates with regional trends.

She went on to say that she felt that the situation would not deteriorate into WWIII.

With regard to Investor Confidence Index for the next three months, she stated that it will remain stable but will critically depend on global economic and political developments which could induce investment outflows.

Meanwhile the president of the Federation of Thai Industries, and chairman of the Joint Public's and Private Sector Committee, Mr Chen Namchaisiri said he agreed with the Ministry of Finance's assertion that the current problems related to Syria and North Korean will not affect the country directly.

He however was concerned over the US review of 16 of its trading partners enjoying trade surpluses.

Thailand is one of the 16 and any official action by the US to redress this could create major trade and investment uncertainties.

Mr Chen led a team of business men of the FTI to meet with the economic team under the charge of Deputy Prime Minister Somkid Jatusri-Phitak over this matter.

He said the FTI is in the process of making a list of products produced by Thailand that could be affected.

These include electrical appliances, food produce, non-alcoholic drinks and automotive parts.

He also voiced concern for other products that may be indirectly affected as they represent links in a production-chain in the event that Japan and China is sanctioned.

Source: Thai Public Broadcasting Service (Thai PBS)

Top