BANGKOK, 31 March 2012 – An economic expert is confident that Thai exports will continue to do well in the world market while suggesting business operators to be particularly cautious in the eurozone.
UBS economist Paul Donovan commented that Thai economy will go on with the recovery this year after suffering severe flooding in the second half of 2011.
He stated that the Thai economic recovery will be mainly driven by domestic consumption while the export industry will still be doing just fine both in Asia and the US.
However, Mr. Donovan cautioned that Thai exporters should be careful when dealing with markets in the eurozone, as some economies are still struggling with their own internal problems, such as France, Italy and Greece.
He also predicted that Myanmar will become a fierce competitor in the future due to the country’s abundant resources that many are vying to have their hands on.
Mr. Donovan noted that Thailand should be worried that Myanmar may overtake it in the world market if Yangon can succeed in its reforms under the nominally-civilian government.