BANGKOK, Aug 22 – Federation of Thai Industries (FTI) Chairman Payungsak Chartsuthipol said today that the Pheu Thai party-led government has passed the test on its economic performance for the first year of its administration.
The government’s evaluation was judged by criteria such as its response to last year’s flood crisis and the world economic slowdown.
The FTI chairman said the government has been working with and trying to fix problems as identified by the private sector, while the prime minister and her Cabinet are determined to conduct the affairs of the country, partly thanks to the Pheu Thai MP majority in Parliament which decided quickly on varied matters.
Problems with neighbouring countries have also been reduced, for the government has good relations with Thailand’s neighbours, he added.
Regarding export challenges, Mr Payungsak advised that the government not give priority only to the country’s top-ten listed exports, as the remainder of the merchandise for export still counts for 50 per cent of Thailand’s export value each year.
Thailand teams, with several agencies working together abroad, were advised to find new markets for more export channels for Thai entrepreneurs. The private sector must also adjust to become more competitive, proactively offering, for instance, that Thailand manufacturers produce new product lines for clients, and not only waiting for orders.
In regard to the National Economic and Social Development Board (NESDB) lowering Thailand’s export target to 7.3 per cent from 15.1 per cent due to the global economic slowdown, the FTI chairman said performance must be monitored in the third quarter in order to project the fourth quarter figure, and then overall Thai exports this year can be estimated.
