Bangkok (VNA) – Thailand is actively working with many countries to secure new energy and fuel supplies as the conflict in the Middle East remains volatile, Thai Foreign Minister Sihasak Phuangketkeow said on March 18.
Thailand contacted Russia and received a positive response, while also expanding discussions with Brazil, Nigeria, Kazakhstan and other partners on alternative supplies.
The tension is are also weighing heavily on Thailand’s aviation sector. Thai aviation authorities said flight cancellations account for about 3% of total traffic, with industry growth this year now expected at only around 3% as higher airfares and weaker travel demand hit the market.
In Laos, meanwhile, the energy crisis is showing visible effects on daily life and the economy. Fuel shortages and rising oil prices have left many firms unable to operate at full capacity, while some petrol stations have had to close early or run dry, causing long lines of motorists and localised congestion.
Fuel import pressure is also driving up demand for foreign currency, while Laos’ foreign exchange reserves are sufficient for only a little over six months of imports. Inflation is showing a strong upward trend and could return to double digits in March, as higher fuel prices push up the cost of goods and services across the board.
In response, the Lao Government has rolled out a number of mitigation measures, including staggered office work schedules, encouraging online meetings to reduce travel costs, promoting electric vehicle use, tightening price management and boosting domestic production to soften the crisis’s impact./.
