The Russia-Ukraine crisis affects oil prices and Thailand but the country’s exports to them are not substantial, according to Deputy Prime Minister and Commerce Minister Jurin Laksanawisit.
The crisis between Russia and Ukraine would have heavy impacts on Thailand in terms of the prices of oil which was a major cost of transported products. Meanwhile, Thai exports to Russia and Ukraine were not considerable because both were emerging markets of Thailand, Mr Jurin said.
“Exports to Russia form 0.38% of total Thai exports and those to Ukraine account for 0.04%. However, we do not want to lose the markets. Now there are limitations because exporters must be careful with the highly fluctuating value of ruble. Exchange rates can cause profit and loss to Russian importers and Thai exporters,” Mr Jurin said.
The government would find other markets to make up for the affected markets. Thailand could export some product items to the important markets of the United States and the European Union in place of Russian products, he said. (TNA)