Thailand: Private sector calls for assessing economic impact of Russia-Ukraine tension
The private sector is calling on the Thai government to set up a joint public-private committee to assess the economic impact of Russia-Ukraine tension.
Illustrative photo (Source: AFP/VNA)Supant Mongkolsuthree, Chairman of the Federation of Thai Industries (FTI), expressed concern that the ongoing tension, which has resulted in the closure of some flight routes, might affect goods transport.
Supant wants the government to set up the committee to deal with problems that arise when the situation has not shown any signs of cooling down.
Meanwhile, Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, urged the government to closely monitor the international trade environment and assess the disruption of the global supply chain to have timely solutions.
President of the Thai National Shippers’ Council (TNSC) Chaichan Chareonsuk also suggested that the Thai government speed up the negotiation process with China to open road and rail routes serving the export of goods to countries in Central Asia and Europe in case sea lanes are impeded.
With nearly 60 percent of Gross Domestic Product (GDP) depending on exports, the Thai economy is facing the risk of significant damage in the near future, given air and maritime transport routes impeded due to Western sanctions against Russia./.
You should also see
Dien Bien Phu Victory echoes, 70 years on
Seventy years ago, Vietnam won the Dien Bien Phu battle, forcing the French government to sign the Geneva Agreement in July 1954 and marking the end of the French military presence in the whole Indochina.
See more
World
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
World
Thailand, EU hope to sign FTA in mid-2025
Before the Songkran holiday, senior officials from Thailand and the European Union (EU) met in Bangkok to discuss ways to promote their relationship, including the framework of the Free Trade Agreement (FTA), green transformation, and Schengen visa waiver, Thai media has reported.
World
India’s trade deficit with ASEAN widens
India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has more than doubled since the implementation of the ASEAN-India Trade in Goods Agreement (AITIGA) in 2010.
World
Malaysia to cut down on petrol subsidies this year
Malaysian Economy Minister Rafizi Ramli has announced that the country will reduce petrol subsidies this year to reduce its fiscal deficit.
World
El Nino thins the only glacier in Indonesia: BMKG
Global warming has played a key role in gradually thinning the glaciers atop Puncak Jaya, Papua, Indonesia, some of the few remaining tropical glaciers in the world, according to Indonesian Agency for Meteorology, Climatology, and Geophysics (BMKG).
