webfact Posted June 26, 2016 Share Posted June 26, 2016 Thai businessmen told not to be panic with BrexitBANGKOK: -- Deputy Prime Minister Somkid Jatusripitak told Thai businessmen not to be panic with Britain’s exit from the European Union (Brexit) saying that Thailand will not be affected much from the shocking decision which, he noted, will largely impact on the EU.The deputy prime minister pointed out that the Bank of Thailand had already taken steps to cope with this situation a few weeks ago.He added that the fluctuations as a result of Britain’s exit from the EU would be temporary.Despite the exit, Dr Somkid stressed that the 5 percent export expansion projection for this year would remain unchanged, pointing out that Thailand will not be affected much.However, the research centre of Kasikorn Bank predicted that Thailand’s overall exports this year would contract by 1.2-4.4 percent which is equivalent to $21.3-21.7 billion or 74.5-75.9 billion baht.The research centre of the Ex-im Bank, meanwhile, predicted that imports into Britain would become more expensive because of the weakening pound sterling which could discourage British consumers to spend particularly on luxurious goods. As such, Thai exports to Britain may be affected but only for a short term period, said the centre.Source: http://englishnews.thaipbs.or.th/thai-businessmen-told-not-panic-brexit/ -- Thai PBS 2016-06-27 Link to comment Share on other sites More sharing options...
thesetat2013 Posted June 26, 2016 Share Posted June 26, 2016 I didn't know Thai exports were considered a luxurious good? In the USA anything imported from China or Thailand was always cheap costs and quality and surely not a luxurious item to be sought after. Link to comment Share on other sites More sharing options...
Rob8891 Posted June 26, 2016 Share Posted June 26, 2016 <facepalm> Link to comment Share on other sites More sharing options...
Thechook Posted June 26, 2016 Share Posted June 26, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted June 26, 2016 Share Posted June 26, 2016 The Bank of Thailand took steps to cope a few weeks ago ? Does he expect anyone will really believe that Thailand was actually thinking and planning ahead ? Link to comment Share on other sites More sharing options...
BigBadGeordie Posted June 27, 2016 Share Posted June 27, 2016 NKK I am sure they were actually "thinking of planning ahead", but then decided not to bother. Link to comment Share on other sites More sharing options...
KimSamui Posted June 27, 2016 Share Posted June 27, 2016 They will be panicking because their UK investments have just had a hit, not really worrying about anything else...yet! Link to comment Share on other sites More sharing options...
SABloke Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury. I read it more as the Brits won't be buying luxury goods which is why Thailand won't be affected Link to comment Share on other sites More sharing options...
FourAces Posted June 27, 2016 Share Posted June 27, 2016 Link to comment Share on other sites More sharing options...
madmitch Posted June 27, 2016 Share Posted June 27, 2016 As Corporal Jones would say "Don't be panic" Link to comment Share on other sites More sharing options...
klauskunkel Posted June 27, 2016 Share Posted June 27, 2016 Thailand will not be affected much from the shocking decision pointing out that Thailand will not be affected much An excellent reason not to be panic is when a government official has to reassure you twice. the research centre of Kasikorn Bank predicted that Thailand’s overall exports this year would contract by 1.2-4.4 percent which is equivalent to $21.3-21.7 billion or 74.5-75.9 billion baht. Another excellent reason not be panic is when a major Thai financial institution publicly states that $21 billion is the same as 74 billion baht, just like the t-shirt says: "Same Same But Different". Link to comment Share on other sites More sharing options...
JACKSJM Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury. My Nikon camera and lenses are made in Thailand. Link to comment Share on other sites More sharing options...
elgordo38 Posted June 27, 2016 Share Posted June 27, 2016 This guy must be a protege of the TAT lady. Thanks for the lullaby. I feel much easier now. I just hope one day they open the cupboard door and the cupboard is bare. Link to comment Share on other sites More sharing options...
sebastion Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury.Women. Link to comment Share on other sites More sharing options...
Winniedapu Posted June 27, 2016 Share Posted June 27, 2016 (edited) Don't panic. Honestly. Don't. You can believe me. You can trust me, I'm Thai. Well, sort of Thai, a bit Chinese but mainly Thai. Sort of. Well, I live in Thailand anyway. Do you like these glasses? And the nice tie? I can sell you the Rama 3 bridge if you like... care to make an offer? Trust me I'm Thai... well, sort of... and the red flush in my cheeks is not because of the big one I had to have before getting up here to tell these lies. Definitely not. I've got a bit of a cold *sniffle* Anyway, you know you can trust me... that's the important thing... Winnie Edited June 27, 2016 by Winniedapu Link to comment Share on other sites More sharing options...
Srikcir Posted June 27, 2016 Share Posted June 27, 2016 Thai businessmen not to be panic with Britain’s exit from the European Union (Brexit) saying that Thailand will not be affected much Tell that to investors in the Thai Stock Index - dropped 2.76% to 1,396.81 points with trading volumn totaling about 51 billion baht when stock market closed mid-day. Link to comment Share on other sites More sharing options...
rubl Posted June 27, 2016 Share Posted June 27, 2016 No need to panic, Britain is and will remain Thailand's partner. Actually the British Thai Chamber of Commerce celebrates it 70th anniversary and although a lot has changed what hasn't changed is Thailand and the UK's commitment to partnership. The UK is one of Thailand’s most active trading and investment partners and aims to double current bilateral trade values of good and services to 528 billion Baht by 2018. I guess now outside the E.U. they can make a push for business even with a junta. Link to comment Share on other sites More sharing options...
NCC1701A Posted June 27, 2016 Share Posted June 27, 2016 Pound dropping again as we speak. Link to comment Share on other sites More sharing options...
Mook23 Posted June 27, 2016 Share Posted June 27, 2016 (edited) The 4 undies for 100thb I buy are luxury. Besides that I can't think of anything luxurious made there... Edited June 27, 2016 by Mook23 Link to comment Share on other sites More sharing options...
Scotwight Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury. Mercedes Benz, Thompson silk Thailand shipped out BT371bn ($11.2bn) worth of jewelry and accessories in 2015. Do you want me to continue or can you google? Link to comment Share on other sites More sharing options...
Winniedapu Posted June 27, 2016 Share Posted June 27, 2016 Pound dropping again as we speak. Quite quickly too... I'll buy at 40, though I don't think it will go down beyond 43. That's bad enough though - as an indicator, it's pretty dire. Winnie Link to comment Share on other sites More sharing options...
Thechook Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury.My Nikon camera and lenses are made in Thailand. aren't they Japanese products? I stand corrected. Link to comment Share on other sites More sharing options...
Thechook Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury.Mercedes Benz, Thompson silk Thailand shipped out BT371bn ($11.2bn) worth of jewelry and accessories in 2015. Do you want me to continue or can you google? My appologies didn't realise they were Thai companies and products. I stand corrected and duly shafted up the rear end with a hot soldering iron. Link to comment Share on other sites More sharing options...
Thian Posted June 27, 2016 Share Posted June 27, 2016 What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury. My Nikon camera and lenses are made in Thailand. And the "happy endings" also sell well worldwide. Link to comment Share on other sites More sharing options...
ozyjon Posted June 27, 2016 Share Posted June 27, 2016 Why are people being told not to panic, go ahead, panic, it's good for the share market. Link to comment Share on other sites More sharing options...
jacko45k Posted June 27, 2016 Share Posted June 27, 2016 panic.jpg Why are people being told not to panic, go ahead, panic, it's good for the share market. Yes, why not, everyone else is! Link to comment Share on other sites More sharing options...
Caveat Emptor Posted June 27, 2016 Share Posted June 27, 2016 Just got to love people like this, clearly visitors from another planet. Year in year out Thailand struggles with flood and drought, government after government fails to cope and fails to plan ahead yet here's a claim that weeks ago plans were put in place to deal with a potential political and financial problem in a country half way around the world. Pity such foresight can't be applied locally and there would never be any problems. Link to comment Share on other sites More sharing options...
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