FTI to discuss strong baht with exporters

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BANGKOK, 17 April 2013  – The Federation of Thai Industries (FTI) will call a meeting with exporters on April 24th, to discuss the situation of the strong Thai currency, which has been affecting the export sector.

According to FTI Chairman Payungsak Chartsutipol, the Thai economy has been heavily affected since the baht has appreciated 4-5 percent against other currencies. He said the export sector is the most affected one. As a result, the FTI chairman will convene a meeting to discuss the situation and corrective suggestions to be presented to the government.

Furthermore, on April 26th, the Commerce Ministry will meet with the FTI, the Thai Chamber of Commerce, and the Thai Bankers’ Association, to discuss the marketing situation of Thai SMEs. The meeting will also be attended by Commerce Minister Boonsong Teriyapirom.

The FTI chairman went on to say that since the beginning of this year, the baht has been the strongest currency in Asia. He expressed his belief that if the currency situation gets fixed, Thailand will see an 8-9 percent growth in its export, as has been forecasted. However, he said, if the Thai currency becomes stronger, it will be difficult to predict the export situation.