PM: Thailand recovery fast from flood because of its strong foundation

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SYDNEY, 29 May 2012  – Prime Minister Yingluck Shinawatra has said that Thailand was able to speedily recover from the devastating flood because it has a strong economic foundation. 

During her four-day visit to Australia, Ms Yingluck delivered a speech ensuring Australian investors of Thailand’s ability to cope with floods and the stable political atmosphere.

The premier said the nation “is moving forward quickly with national reconciliation by implementing the recommendation of the Truth and Reconciliation Commission.” She added the Thai government has also approved a compensation plan for all victims of past political violence.

She said the country has recovered well from the flood. According to her, in the first quarter, the Thai economy grew by 11 percent compared to the previous quarter. She further added that the economy is expected to grow strongly at 5.5 to 6.5 percent this year.

Additionally, Ms Yingluck stated that both Thailand and Australia share similar value of democracy, respect for human rights and rule of law, concluding that both see the need to address challenges to regional and human securities, such as transnational crimes and terrorism; for example, to reduce human trafficking and promote regional co-operation. She promised that Thailand will set up the Bali Process Regional Support Office in Bangkok.