Thai economy should rely more on Asia and ASEAN, says economist

BANGKOK, July 11 (TNA) – The Thai economy should shift to rely more on Asian and intra-ASEAN markets, according to a leading economist.

Speaking at annual meeting of the National Economic and Social Development Board (NESDB), agency director Narongchai Akrasanee said Thai economic and political affairs must be restructured under the 11th National Economic and Social Development plan.

The Thai economy must not rely on the United States destinations any longer.

Investors should turn to do more business with Asian countries and ASEAN members, including Laos, Cambodia, Myanmar and Vietnam, and open new markets such as Africa, China, India, and the Middle East, he advised.

Mr. Narongchai said entrepreneurs must pay greater attention to innovative products and designs and government must help stimulate demand.

Intellectual property protection must also be given priority, beginning with upgrading the Intellectual Property Department being upgraded to the same status as the Board of Investment (BoI), Mr. Narongchai said. (TNA)