Business News

Thailand Monitoring US-China Conflict

Published

1 month ago

25/05/2020

Thailand Monitoring US-China Conflict | Samui Times

The Ministry of Commerce and the private sector are set to devise a plan to push exports in order to cope with the possibility of another trade war between China and the US.

Pimchanok Vonkorpon, Director-General of the Trade Policy and Strategy Office, said, “We have to monitor this situation closely, especially before the US presidential election because we cannot predict US President Donald Trump’s moves.”

She expected that the US would issue up to three measures on China or other countries, especially increasing tariffs on products, such as automobiles.

“We will discuss with the private sector about the impact on exports,” she added. “If we are lucky, we may turn the crisis into an opportunity.”

Prachya Samalapa, vice chairman of the Thai Chamber of Commerce, expects Thailand to benefit from this conflict, as there could be an opportunity to promote the country as a supply chain as China begins to move production to Thailand and Asean countries to supply materials.

“After the US accused China of causing the Covid-19 outbreak, China was forced to find partners in countries nearby, which can be seen from the opening of checkpoints to enable Thailand to export agricultural goods, such as durian,” he said.

Regarding Panasonic’s decision to move production from Thailand to Vietnam, he said it was normal because companies worldwide have to reorganise their structures to be in line with the economic situation and production cost.

“We expect businesses to reorganise their structure following the Covid-19 outbreak due to the decline in purchasing orders,” he added. “Meanwhile, the government sector and the Thai Chamber of Commerce will find a way to enable companies to be able to continue their business.”

SOURCE: Nation Thailand

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