Thailand’s Deputy Prime Minister Somkid Jatusripitak gathered Thai trade officers from 63 posts for a meeting in Bangkok in late February to discuss the impacts of the new US administration and Brexit on its export growth and overall economy. Although it is not expected that US trade policy will have impacts on Thailand, the second-biggest economy in ASEAN (nominal GDP) discussed new strategies to drive export growth, given that indirect trade effects on exports to China are expected.
At this meeting Thailand’s Deputy Commerce Minister Sontirat Sontijirawong said that Thailand will need to prepare solutions in advance to cover any negative economic consequences. US President Donald Trump’s trade policy and Brexit were the two major factors of concern in regard to their effect on global trading this year. The UK is Thailand’s third-largest export market among the 28 EU members.
Sontirat Sontijirawong will brief Asia House corporate members on the current economic environment, Thailand’s role within ASEAN and its reaction to the British decision to leave the European Union.
Before taking his current position as Deputy Minister of Commerce, Sontirat Sontijirawong was Advisor to the Minister of Industry and Member of the National Reform Steering Assembly.