TCC urged Govt to maintain economic recovery

BANGKOK, 11 March 2010 (NNT) – The Thai Chamber of Commerce presented five key economic issues for government’s consideration in hope that they could help sustain the country’s currently fragile economic recovery.

TCC’s Vice Chairman Pongsak Assakul suggested that the most important issue to ensure the constant economic recovery was politics since it was unpredictable and destructive. Poor management could lead to reduced confidence of foreign investors.

He also said that the government should take the Free Trade Agreement with powerful nations seriously because it meant stronger trade ties and growing revenues. With oil prices on the rise, the government was suggested to develop renewable energy to meet domestic demands instead of dependence on costly oil imports.

The TCC hoped that drought in rural areas that was expected to intensify should be solved quickly by comprehensive approaches. Mr Pongsak also urged the Bank of Thailand to ensure stability of the Baht since it has accelerated 1.27% within a week.

He pointed out that if compared with the country’s major trade partners, it was obvious that their currencies had been more solid such as 0.28% of Singapore, 0.22% of the Philippines and 0.39% of Japan.