BANGKOK, Nov 20 (TNA) – Exports will continue to play an instrumental role in driving Thai economic growth, according to economic gurus.
Speaking at a panel discussion on “How the Thai Economy Will Sustain in Future,” former deputy prime minister and finance minister Pridiyathorn Devakula said the Thai economy still needed to count on exports to boost its growth.
However, Thailand must shift to the Middle East as its main export destination instead of the United States.
At present, exports to the Middle East have risen to 55 per cent of the total while those to the US have dropped to just 20 per cent.
In addition to relying on exports, Thailand needs to boost local consumption and environmental protection.
What the government should do now is to accelerate developing new industrial areas, he said.
The government should shift to developing the southern coastal area within six months.
Otherwise, he said, the private sector will experience difficulties in investment and production capacity expansion because the Mab Ta Put Industrial Estate is already occupied and engulfed with pollution.
Narongchai Akrasanee, chairman of Export and Import Bank of Thailand (EXIM) board, said he shared the view that Thailand still needed to rely on exports because it remains capable in terms of trade.
He believed the Asian economy would continue growing and Thailand would benefit from the trend.
Thai Airways International president Piyasvasti Amranand said he believed that export-led economic development would remain a key to the country’s economic growth in the future.
However, there would be some problems and obstacles both internally and externally such as a tax barrier and environmental problems.
Thailand must adjust to the problems and develop the industrial sector to ensure it grow together with communities, he said. (TNA)
Business News : Last Update : 08:19:27 20 November 2009 (GMT+7:00)
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