BANGKOK, 9 August 2011– The Thai Chamber of Commerce (TCC) is asking the new government to urgently solve the high living cost of people as its first priority while warning of a decline in US imports of Thai goods.
TCC and Board of Trade of Thailand Chairperson Dusit Nontanakorn believed that the new government will have its own strategies to solve pending economic problems because the high living cost has become critical and a challenge to the new economic related ministers.
As for US economic situation, Mr Dusit said the Thai private sector actually has been realising the US economic problem for quite some time, but S&P has just decided to lower the US credit recently. He said both the public and private sectors must monitor new developments in the US economy closely.
The chairperson admitted that Thailand should consider its export markets again because the US used to be a major importer of Thai products. He stressed that the US demand for Thai imports must be assessed to see how much it will decline from now on.
Mr Dusit also suggested that Thailand should enhance trade cooperation with other ASEAN friends, especially upon the upcoming enforcement of the ASEAN Economic Community (AEC) which will put the regional market in the limelight.