Thai businessmen told not to be panic with Brexit

[webfact]

Thai businessmen told not to be panic with Brexit



BANGKOK: -- 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

[thesetat2013]

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.

[Rob8891]

<facepalm>

[Thechook]

What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury.

[NongKhaiKid]

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 ?

[BigBadGeordie]

NKK I am sure they were actually "thinking of planning ahead", but then decided not to bother.

[KimSamui]

They will be panicking because their UK investments have just had a hit, not really worrying about anything else...yet!

[SABloke]

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

[FourAces]

[madmitch]

As Corporal Jones would say

"Don't be panic"

[klauskunkel]

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".

[JACKSJM]

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.

[elgordo38]

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.

[sebastion]

What luxury goods do Thailand export? I can't think of a single luxury thai product, all those OTOP things are hardly luxury.

Women.

[Winniedapu]

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

[Srikcir]

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.

[rubl]

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.

[NCC1701A]

Pound dropping again as we speak.

[Mook23]

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

[Scotwight]

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?

[Winniedapu]

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

[Thechook]

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.

[Thechook]

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.

[Thian]

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.

[ozyjon]

Why are people being told not to panic,

go ahead, panic, it's good for the share market.

[jacko45k]

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!

[Caveat Emptor]

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.