Thailand urged to be ready for UK's exit from EU

[Lite Beer]

Thailand urged to be ready for UK's exit from EU
Petchanet Pratruangkrai,
Erich Parpart
The Nation

BANGKOK: -- Experts are calling on Thailand to prepare for the United Kingdom's possible decision to pull away from the European Union after the ruling Conservative Party returned to power yesterday.

They said that though the UK's departure from euro zone would have no direct impact on Thailand, the Thai government should still prepare for changes in trade regulations and uncertainties.

Despite the unexpected outcome for the Conservatives, uncertainty looms over whether Britain will stay in the EU even though Prime Minister David Cameron promised to hold a national referendum on the subject. The referendum will most likely be held in 2017 and should follow a re-negotiation with the EU on membership terms.

Earlier, there had been predictions that the vote in Britain would be the closest in decades.

Board of Trade vice chairman Sanan Angubolkul suggested yesterday that Thailand initiate free-trade talks with the UK to ensure access to that market should Britain vote to leave the EU. He also said it was necessary for Thailand to monitor new policies under the new government closely, as some changes could be introduced.

Chookiat Ophaswongse, honorary chairman of the Thai Rice Exporters Association, said Britain's pullout from the EU would affect the bloc's stability and weaken the euro. As a result, he would expect Thai exports to face more difficulties as European consumers lowered their spending.

"The weakening of the euro means higher prices for Thai goods. It would also create tougher competitiveness for Thai exports to the EU, though trade with the United Kingdom should not have problems," Chookiat said.

Pimonwan Mahujchariyawong, deputy managing director of Kasikorn Research Centre, said there were no foreseeable direct impacts on Thailand should Britain leave the EU, since it uses the pound sterling and, therefore, its exit would have only a minimal impact on the euro.

She said the only changes that might occur involved trade regulations and the fact that Britain would have to come up with new tariff and non-tariff rules if it leaves the EU.

Kim Eng Securities (Thailand) economist Tim Leelahaphan said the pound sterling had appreciated by 1 per cent after the uncertainty regarding Britain's election died down and the Conservatives' larger-than-expected victory.

Nevertheless, Cameron's austerity measures mean Britain's policy interest rate has the potential to stay at a low level in the coming period. That would not support the British currency and neither will the uncertainty created by the possible exit from the EU.

"The possible exit would create an uncertainty in the global market, but it should not affect Thailand's fundamentals," he said.

Source: http://www.nationmultimedia.com/politics/Thailand-urged-to-be-ready-for-UKs-exit-from-EU-30259703.html

-- The Nation 2015-05-09

[Thai at Heart]

This is a little premature considering 99% of British business hasn't planned on leaving yet

[brewsterbudgen]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

[AyG]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

The chances of it happening will indeed be very small, not because of the risks, but because politicians and civil servants ignore the will of the people. Democracy is a sham.

(Slightly off topic, but look at the election result, UKIP won 13% of the vote, but returned only one MP.)

[Henryford]

Come on caMORON has no intention of ever giving us a referendum. That was just another of his lies to get elected.

[KarenBravo]

This is a little premature considering 99% of British business hasn't planned on leaving yet

It's not up to British business. If the referendum goes ahead, it will be the people that decide.......

[hgma]

ONCE there was a Great Britain, as there was the Dutch East Indian Company ruling the waves and countries, to think that a greater Britain will re emerge from leaving the EU as some eurosceptic UK politicians think would trigger the biggest political and economic disaster Europe has ever seen.

I still hear Cameron hissing....." If they (the EU) think we(the UK) will gonna pay this (higher contribution to the EU) they better think twice.....read my lips ....we DO NOT INTENT TO PAY ANY OF THIS NONSENSE.

2 months later the bill was payed after a creative accountent adjustment!!

Europe has tuff times ahead, and thus we all!!

[brewsterbudgen]

Come on caMORON has no intention of ever giving us a referendum. That was just another of his lies to get elected.

I think he'll have no choice. But he'll only call it when he's confident of winning it!

[Always18]

"Board of Trade Vice Chairman Angul Bolkul suggested that Thailand initiate free trade talks with the UK."

As ever, protectionist Thailand believes that "free trade" only means free entry for Thai goods into foreign markets.....................

[jacko45k]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

If these 'risks' are detailed along with the advantages and return of sovereignty the chances of it happening will be in the hands of the people. Not a bad idea, since what we have now bears no resemblance to what British people voted for in 1975. I for one would change my vote to no. Putting 12 £Billion back into the UK economy each year may be an advantage as well as the ability to protect our own borders.

There is no doubt the risks will be made abundantly clear, along with a measure of scare mongering by leaders of industry.

Edited May 9, 2015 by jacko45k

[DrTuner]

That island is not really a part of Europe anyway. Begone.

[KarenBravo]

The British economy is run in a way that is totally foreign to most of the EU.

We have the "Anglo-Saxon" model. More laissez-faire and less government red-tape and needless regulations.

The real secret is that companies can fire and hire depending on the state of the economy. This is the real difference.

In places like France, Italy and Spain, it is very hard to get rid of workers. Companies are loath to create jobs if those jobs are permanent, regardless of economic conditions.

That's why the unemployment rate is so high in these countries.

This is why we have a relatively low unemployment rate and an economy that is well out of the recession.

Edited May 9, 2015 by KarenBravo

[diehard60]

It would be the best thin the UK could do or have done.

[soalbundy]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

If these 'risks' are detailed along with the advantages and return of sovereignty the chances of it happening will be in the hands of the people. Not a bad idea, since what we have now bears no resemblance to what British people voted for in 1975. I for one would change my vote to no. Putting 12 £Billion back into the UK economy each year may be an advantage as well as the ability to protect our own borders.

There is no doubt the risks will be made abundantly clear, along with a measure of scare mongering by leaders of industry.

what have us bears got to do with it ?

[soalbundy]

The British economy is run in a way that is totally foreign to most of the EU.

We have the "Anglo-Saxon" model. More laissez-faire and less government red-tape and needless regulations.

The real secret is that companies can fire and hire depending on the state of the economy. This is the real difference.

In places like France, Italy and Spain, it is very hard to get rid of workers. Companies are loath to create jobs if those jobs are permanent, regardless of economic conditions.

That's why the unemployment rate is so high in these countries.

This is why we have a relatively low unemployment rate and an economy that is well out of the recession.

plus lousy pay and lots of overtime with unaffordable housing.

[soalbundy]

That island is not really a part of Europe anyway. Begone.

What map are you looking at ?

[KarenBravo]

The British economy is run in a way that is totally foreign to most of the EU.

We have the "Anglo-Saxon" model. More laissez-faire and less government red-tape and needless regulations.

The real secret is that companies can fire and hire depending on the state of the economy. This is the real difference.

In places like France, Italy and Spain, it is very hard to get rid of workers. Companies are loath to create jobs if those jobs are permanent, regardless of economic conditions.

That's why the unemployment rate is so high in these countries.

This is why we have a relatively low unemployment rate and an economy that is well out of the recession.

plus lousy pay and lots of overtime with unaffordable housing.

Better that, than high unemployment and all the problems that go with it.

[rocketron57]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

The chances of it happening will indeed be very small, not because of the risks, but because politicians and civil servants ignore the will of the people. Democracy is a sham.

(Slightly off topic, but look at the election result, UKIP won 13% of the vote, but returned only one MP.)

UKIP had more votes than SNP & LibDem combined. but won just 1 seat. Our first past the post electoral system is a joke!

[Pib]

It's all but a done deal because the "experts" said so. By the way, who are these so called experts?

[jollyhangmon]

The usual wellknown unreflected snapshot around here, generally widely just semiofficial rubbish.
But yes, you made it into the news again, congrats, you also proved there are some people capable of following international tidings in time, remarkable, yes.
Now go and start 'free trade talks' with UK quickly, hoho, time's pressing! Maybe ya manage gettin' better conditions concerning slave-laboured goods, less 'drops in profit' perhaps , no ...?!

[AyG]

Of course, they won't be remotely ready to react should the UK leave the EU. Look at Thailand's farcical lack of readiness for the ASEAN Economic Community (AEC) integration, and they've had years to prepare for that.

[nontabury]

This is a little premature considering 99% of British business hasn't planned on leaving yet

However,according to the opinion polls the majority of the electorate do wish to leave the the undemocratic EU

[quandow]

"the Thai government" - and - "prepare"

I don't believe I've EVER seen these words in the same sentence before.

[Stocky]

This is a little premature considering 99% of British business hasn't planned on leaving yet

It's not up to British business. If the referendum goes ahead, it will be the people that decide.......

...talk about the blind leading the blind.

[KarenBravo]

This is a little premature considering 99% of British business hasn't planned on leaving yet

It's not up to British business. If the referendum goes ahead, it will be the people that decide.......

...talk about the blind leading the blind.

My post isn't an opinion. It's a fact.

[hawksway]

The British are past masters of pulling off diplomatic offensives. They well know that Brussels will have to yield some ground over the EU budget with a lowering of the cost of Britain's membership. Britain will probably also get some support from its non EU Partners who will be having worries over European security. Few at the upper reaches wants Britain out of the European Union and even the Public at large would not desire it if the implications were really spelt out. That's what Cameron's charm offensive will be about.

[HOAX]

Well, I think Thailand deserve some credit for taking it seriously. It`s better to be prepared than not. It could have unseen effects on the market, and cause A may just be what causes B. Time will tell though if Thailand actually have prepared themselves, instead of just imagining that they have.

[jollyhangmon]

This is a little premature considering 99% of British business hasn't planned on leaving yet

It's not up to British business. If the referendum goes ahead, it will be the people that decide.......

...talk about the blind leading the blind.

My post isn't an opinion. It's a fact.

Good. Stockys even more so.

[12DrinkMore]

When the risks of leaving the EU are made clear, the chances of it happening will be very small.

The chances of it happening will indeed be very small, not because of the risks, but because politicians and civil servants ignore the will of the people. Democracy is a sham.

(Slightly off topic, but look at the election result, UKIP won 13% of the vote, but returned only one MP.)

Yep, it is incest.

If the politicians decided to back the UK out of the Eurozone, then all those lucrative politician-type jobs in Europe would be lost. That will not happen.

Have to keep their options open as wide as possible, the international family of politicians.

Blaire also recently said that, "important decisions cannot be left to the voters".

Remember, your leaders know what is best for you. So bend over and take it to the hilt.

Your vote has now been counted. It has expired and worth nothing for the next four years.

A referendum on exiting Europe? Hah! Forget it, either it will be postponed or the vote will be, "Should the UK renegotiate the European deal"?

It will certainly not be, "Should the UK exit from Europe".

Never in a million.

[hugh2121]

Did I miss something?

They said that though the UK's departure from euro zone would have no direct impact on Thailand, the Thai government should still prepare for changes in trade regulations and uncertainties

When did UK become a member of the euro zone?