BOT: Thai economy not affected by EU downgrade of ties

[webfact]

BOT: Thai economy not affected by EU downgrade of ties

BANGKOK, 4 July 2014 (NNT) - The Bank of Thailand (BOT) has assured the public that the kingdom’s economy will not be affected by the European Union’s recent downgrade of ties.

BOT Governor Prasarn Trairatworakul said that Thailand’s exports are currently not impacted by the EU’s response to the coup, as the bloc did not boycott Thai goods. The EU has earlier stated that measures taken by the EU are not sanctions.

He elaborated that if the EU intends to impose sanctions against Thailand, only a number of sectors will be affected. Thailand’s total exports to the region are not considered as high as those exported to other markets.

In addition to the announcement of a coup, Thailand’s reputation has also suffered from accusations of slavery in the fishing industry. Private and public sectors have been clarifying any misconceptions to the international community to prevent Thai products from being tarnished by the human trafficking allegations.


-- NNT 2014-07-04

[UbonRatch]

Interesting. So the EU is not considered of much importance in Thai exports - nice one.

And if the US follows suit with sanctions, will the same be declared? Exports to the USA are not of high importance?

Try and pull the other one, Mr. Banker. It's only been 1 month.... You can bet your bottom satang that the major retailers of the EU and US are locating supplier moves right now... wait another 2 months, and you'll get hit... unless you're very lucky in your projection.

[carstenp]

Well seems like 17,1 euro billions is nothing for Thailand

EU-Thailand "trade in goods" statistics

Chart

Trade in goods 2011-2013, euro billions

Year EU imports EU exports Balance

2011 17.7 12.3 -5.5

2012 17.0 14.8 -2.2

2013 17.1 15.0 -2.0

Edited July 4, 2014 by carstenp

[h90]

Interesting. So the EU is not considered of much importance in Thai exports - nice one.

And if the US follows suit with sanctions, will the same be declared? Exports to the USA are not of high importance?

Try and pull the other one, Mr. Banker. It's only been 1 month.... You can bet your bottom satang that the major retailers of the EU and US are locating supplier moves right now... wait another 2 months, and you'll get hit... unless you're very lucky in your projection.

I doubt the USA can do much sanctions. The have unofficial military bases in Thailand. Thailand is the center for the SEA NSA spying. Thailand tortured prisoners for USA. And China makes itself handsome..... So if the USA would something really hard, Thailand can make them a lot problems as well, alone by speaking about the spying.

[SoFarAndNear]

Yes why care about sanctions of EU and US and the other western countries. You see in North Korea it isn't so bad at all..

Edited July 4, 2014 by SoFarAndNear

[trainman34014]

Will these people ever admit that troubles of their own making affect them ? Doubtful methinks; as living in denial is a much easier option and they don't have to think about how they are going to rectify the problem !

[noitom]

The Thais are "polishing" up the misconceptions that all foreigners have as to the way Thais run things down here in the trades.

[FangFerang]

Interesting. So the EU is not considered of much importance in Thai exports - nice one.

And if the US follows suit with sanctions, will the same be declared? Exports to the USA are not of high importance?

Try and pull the other one, Mr. Banker. It's only been 1 month.... You can bet your bottom satang that the major retailers of the EU and US are locating supplier moves right now... wait another 2 months, and you'll get hit... unless you're very lucky in your projection.

I doubt the USA can do much sanctions. The have unofficial military bases in Thailand. Thailand is the center for the SEA NSA spying. Thailand tortured prisoners for USA. And China makes itself handsome..... So if the USA would something really hard, Thailand can make them a lot problems as well, alone by speaking about the spying.

Where have you gotten your information? Unofficial military bases, yes, but after that you lost me altogether. Thailand is a way station for intelligence, at best. "China makes itself handsome"..by buying rare siamese rosewood? "Thailand can make them a lot of problems?"

What a joke. But I'm not laughing and neither is anyone else. When Walmart cans their orders, the fisheries will have to sell elsewhere, under stress, and that means lower prices for goods.

The Thai belief in absolute autonomy is an illusion. The world is smaller, not larger. Thai history books claim they were never occupied by any foreign army, but your own history shows this to be a lie. The Burmese occupied a big chunk of real estate including Ayutthaya. The Japanese were guests, according to Thai history. Yeah, right.

I had a Thai girlfriend who told me a joke -- "Thailand has been occupied by Chinese sperm for more than a century.They never needed an army."

Most influential Thais are Thainese, or Chainese, or whatever giggle you like.

NEVER underestimate the American government's tried and true ability to screw things up. My leaders are not very good at making things better, but they are experts at making things worse.

Underestimating American leaders has consistently been a mistake since Yorktown. They are experts at screwing things up.

The last time we really helped fix anything was WWII. After that, it gets uglier and uglier.

Do not bring a knife to a gunfight. You will lose every time. My people are quite dangerous. This is no matter of pride, it is a statement of fact.

I say this with genuine regret. IMHO we have become the bullies on the block rather than the heroes we could be.

Thais have a unique culture that is worth preserving. I like almost all the Thais I meet. In my cutthroat country I cannot say that is true.

Something many of us say is "I love my country but I hate my government."

Thailand is part of the world theater and needs to remain a player. Do NOT pick a fight with anyone who has more power than you do. Ask Machiavelli...... Do NOT go in an Irish pub and insult the Pope. Do NOT go into an English pub and insult the Queen. Do NOT threaten the American government --if just one of those megalomaniacs takes you seriously it would not go well..... for anyone.

[Pib]

Nothing affects Thailand...absolutely nothing.

[Thailand]

And tourism is rebounding. Construction is booming and property prices and rentals are rocketing thanks to huge demand.

[Morch]

Nothing affects Thailand...absolutely nothing.

Indeed.

Although they do like to use "tarnish".

[Thai at Heart]

Really funny response.

Its almost daring them to try and put some sanctions on, so that Thailand can say, "see didn't hurt me".

"This I can't hear what youre saying" type of diplomacy is really really odd. No mention of whether they agree or disagree on anything, just, blowing a raspberry back and saying we don't care.

[Thai at Heart]

Interesting. So the EU is not considered of much importance in Thai exports - nice one.

And if the US follows suit with sanctions, will the same be declared? Exports to the USA are not of high importance?

Try and pull the other one, Mr. Banker. It's only been 1 month.... You can bet your bottom satang that the major retailers of the EU and US are locating supplier moves right now... wait another 2 months, and you'll get hit... unless you're very lucky in your projection.

I doubt the USA can do much sanctions. The have unofficial military bases in Thailand. Thailand is the center for the SEA NSA spying. Thailand tortured prisoners for USA. And China makes itself handsome..... So if the USA would something really hard, Thailand can make them a lot problems as well, alone by speaking about the spying.

When it comes to the American consumer and slavery, there is a limit that politically, not even the great consumer capitalist in the USA can stomach.

[JesseFrank]

He elaborated that if the EU intends to impose sanctions against Thailand, only a number of sectors will be affected.

One sector that springs to mind is the export sector.

[thesetat2013]

I have not once read or heard or even seen a thai state a need for any foreigner except as a tourist (asians excluded)

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

[NongKhaiKid]

Interesting. So the EU is not considered of much importance in Thai exports - nice one.

And if the US follows suit with sanctions, will the same be declared? Exports to the USA are not of high importance?

Try and pull the other one, Mr. Banker. It's only been 1 month.... You can bet your bottom satang that the major retailers of the EU and US are locating supplier moves right now... wait another 2 months, and you'll get hit... unless you're very lucky in your projection.

Typical Thainess, nothing ever goes wrong here and we don't need anybody.

[peterb17]

Oh dear ! TV is losing its edge- no body has mentioned that Thailand is considered to be the HUB of everything- so really the downgrade of EU ties is not going to cause any problems.

[Mr Yim]

Getting into bed with China, wouldnt bode well with Japan, South Korea, Vietnam and the Philippines. Despite what many Thais and TV members think, the international community, led by the United States, know exactly what is going on in Thailand and can see through the BS. General Prayuth has made his bed and now has to lay in it.

[peterb17]

Getting into bed with China, wouldnt bode well with Japan, South Korea, Vietnam and the Philippines. Despite what many Thais and TV members think, the international community, led by the United States, know exactly what is going on in Thailand and can see through the BS. General Prayuth has made his bed and now has to lay in it.

Trouble is ,Mr Yim, the USA has tried to impose its utopian ideas on the planet ( appalling poverty linked with astounding wealth for the elite on Wall Street)

It has resulted in human beings willing to have bombs surgically implanted to bring down aircraft with American travelers - can you imagine such hatred - the West is declining- not perhaps not on a wave of corruption, but on a wave of wealth on the back of sweatshops, shareholder demands.

America is a spent force, it should concentrate on its own people not policing the world .

So far the General is not doing a bad job

[joecoolfrog]

I thought that the coup was justified and it seems that the General is making things happen but as time passes I do start to wonder. Why are we constantly being fed this diet of ridiculous propoganda and why the ongoing censorship ?

Edited July 5, 2014 by joecoolfrog

[dunque]

Well seems like 17,1 euro billions is nothing for Thailand

EU-Thailand "trade in goods" statistics

Chart

Trade in goods 2011-2013, euro billions

Year EU imports EU exports Balance

2011 17.7 12.3 -5.5

2012 17.0 14.8 -2.2

2013 17.1 15.0 -2.0

it is approximately 10% of total exports so significant - however, there are significant imports from the EU, so any sanctions could be reciprocated.

[baboon]

I thought that the coup was justified and it seems that the General is making things happen but as time passes I do start to wonder. Why are we constantly being fed this diet of ridiculous propoganda and why the ongoing censorship ?

The military is a one trick pony. The bottom line is, they exist to kill people. The above methods are all they know.

This is why western governments are hostile to coups, I think.