BANGKOK, 31 July 2015 – The Minister of Industry says Thailand has no reason to fear a trade embargo by the United States following Thailand’s second consecutive year as a tier 3 nation in the US’s annual Trafficking in Persons report.
Industry Minister Chakramon Phasukavanich assured the public that Thailand has been making continued progress in tackling human trafficking activities within its borders. Although the United States will keep Thailand on tier 3 until the next annual report, Mr Chakramon says trade relations between the two countries are still strong. He did note however that Thailand has recently exported less seafood and raw materials to the United States due to Thailand’s expansion in the Chinese market.
As for the state of the country’s economy, the Minister of Industry cited a drop in both import and export numbers, although it has yet to affect the country’s GDP. The country also maintains an abundance of cash reserves to fund its various projects and services.
