BAGNKOK, 10 August 2011 – The Department of Export Promotion (DEP) has confirmed that the US economic slowdown has no significant impact on the Thai export sector as purchase orders have already been placed in advance.
DEP Director-General Nuntawan Sakuntanaga deemed the economic recession in the US at present as not worrying and voiced her belief that the issue would not cause troubles to Thai exporters. She reasoned that most purchase orders from the country, which accounted for 10 percent of Thai exports, had been made 3-6 months prior to the prevailing situation.
On the other hand, the Director-General warned entrepreneurs who were largely relying on the US market or exporting more than 40 percent of their products to the country to be careful as they could be slightly impacted. In preparation for potential risks, the DEP has adopted a policy to assist exporters in their search for new markets in parallel with their maintenance of existing ones.
Speaking of the widespread rioting within the UK, Ms Nuntawan expected the crisis to be short-lived and did not consider it an immediate risk factor for Thai exports. She insisted that no changes had been made to events scheduled to be organized in the UK, including the Taste of London 2011 where Thai massaman curry would be promoted.
In addition, the Director-General stated that the department would convene with all Thai commercial envoys in foreign countries this September in order to evaluate the export situation and acknowledge policies handed down by the new minister and deputy minister of commerce.