PM assures Thailand’s readiness to cope with AFTA impacts

BANGKOK, Dec 24 (TNA) – Thai Prime Minister Abhisit Vejjajiva on Thursday said the government has set a plan to deal with impacts on Thai economy after ASEAN Free Trade Area (AFTA) is effective in 2010.

In his speech on the AFTA at a Bangkok’s hotel, the prime minister said the AFTA agreement will affect Thai economy both negatively and positively but there will be more positive than negative impacts.

It is expected that Thailand will enjoy more trade surplus, amounting to US$10 billion, compared to other ASEAN countries, and Thailand can definitely compete with other countries in the region.

Agricultural produce, forest cultivation industry and some entrepreneurs may be affected but the government has mapped out assistance measures through fundings in relevant ministries, he said.

He called on entrepreneurs to adjust themselves to become more competitive and lessen the negative impacts.
Meanwhile, Deputy Commerce Minister Alongkorn Ponlabutr said ASEAN countries are the core market for Thailand’s exports and it is expected that the growth will be continuous.

In 2009, Thailand’s total export to ASEAN countries was US$40 billion while import value amounted to US$30 billion. The country’s trade surplus was US$10 billion.

Mr. Alongkorn said a combined ASEAN population of 580 million and US$1.5 trillion Gross Domestic Product (GDP) will be a key factor for Thailand to enhance its trade and investment.

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (TNA)