PATTAYA, Thailand – The Federation of Thai Industries (FTI) will meet with the Bank of Thailand (BoT) on Tuesday, 21 October, to discuss measures addressing the surging baht, U.S. trade tariffs, and financial support for SMEs.
The meeting, led by FTI Vice President Nawa Chantanasurakhon and BoT Governor Vithai Ratanakorn, will focus on mitigating the impact of the strong baht on exports, strategies to cope with U.S. trade policies, and improving liquidity and debt management for small and medium-sized enterprises.
The Thai baht has appreciated by 5.7% year-to-date as of 6 October, outperforming regional currencies including those of Vietnam, Indonesia, the Philippines, and China. While a stronger baht can lower import costs, it poses significant risks to export-dependent sectors, which account for 60% of Thailand’s GDP, and the tourism sector, contributing another 10%.
Exporters face reduced competitiveness in global markets as earnings converted back into baht decline, while industries such as electronics, automotive parts, and processed food experience increasing pressure. The strength of the baht also constrains BoT’s monetary policy options, limiting its ability to cut interest rates if the economy weakens.
FTI officials are expected to propose measures to support exporters and SMEs while urging coordinated policies to manage currency volatility and sustain Thailand’s export competitiveness. (TNA)
