Thailand safe from U.S. economic problem this year

BANGKOK, August 9 (TNA) - Chairman of the Thai Chamber of Commerce Dusit Nontanakorn says the U.S. economic problem will have no serious impact on Thailand this year as the U.S. market made up only 10 percent of total Thai exports.

Dusit voiced confidence in the Thai economy on Tuesday, saying he was more concerned over the impact of the U.S. economy on Spain and other European countries, particularly in view of possible fluctuations in foreign exchange rates.

However, Dusit said he believed the present situation would strengthen Asian economies, saying Thailand should use the opportunity to step up as a leading country in Southeast Asia.

He also advised the incoming Thai government to enhance ties with other Southeast Asian nations and solve border trade issues before the advent of an ASEAN Economic Community in 2015.

Meanwhile, chief financial officer of PTT Public Company Limited Tewin Wongwanich said he expected Thailand to build up more trade competitiveness through long-term policies headed by the new government.

Fortunately he said, the new government had assumed office in a time of economic recession, which he claimed, could further reduce oil prices, and subsequently lower living costs.

However, he advised the government to act swiftly in adjusting energy prices to facilitate market mechanisms. (TNA)