BANGKOK, 18 May 2012 – The Commerce Ministry is unfazed by Greece’s failure to form a new government, stating that Thailand has been preparing plans to cope with possible hit to its export sector.
Department of International Trade Promotion (DITP) Deputy Director-General Wuttichai Duangrat said that the DITP has been keeping a close eye on the situation in Greece for some time and aware that the country’s failure to form a new government could exacerbate the debt crisis, which may affect the overall image of Thai exports.
Mr. Wuttichai stated that related agencies have been mulling back-up plans and looking at additional markets for Thai exports to cushion the impact from all problems in Greece.
According to the DITP Deputy Director-General, new markets Thailand has been penetrating include China, India and Russia.
In addition, he said that statistics showed Greece’s importation of Thai products represented only 2-5 percent of the country’s exports to EU.
As a result, he believes that any fallout from Greece will not hurt Thai businesses much.