Private sector not concerned over revised-down GDP and export target by central bank


BANGKOK, 27 September 2015 – A leading businessman says he is not concerned about the downward adjustment of the country’s GDP and export growth target by the Bank of Thailand, but has advised business operators to develop their English skills ahead of the ASEAN Economic Community (AEC).

Chairman of the Federation of Thai Industries (FTI) Suphan Mongkolsuthee says Thailand is now ready for the AEC, and he views the ASEAN economic integration as a good opportunity for Thailand’s trade, investment and transportation sector. He hopes that the 10 member states will become trade partners rather than rivals.

He remarked that the Bank of Thailand’s revision of the GDP growth forecast down to 2.7 percent and the export target down to 5 percent was not something out of expectation. However, he expressed concern over the decline in domestic purchasing power. Next week the FTI chairman said he would meet with representative of the Board of Trade of Thailand and the Thai Bankers Association to discuss Thailand’s overall economic situation.