Bangkok, May 23 – The Federation of Thai Industries warns the government that an influx of Chinese investors can prompt the United States to block Thai products.
FTI vice chairman Kriengkrai Thiennukul said the government should contain the arrival of Chinese manufacturers who planned to export their products in the banner of Thai products because the US could issue retaliatory measures against Thailand if the Chinese production relocation is excessive.
Thailand posted trade surplus with the US and the surplus was the 11th-12th biggest among the trading partners of the US, he said.
“Thailand through the Board of Investment wants foreign investment in the Eastern Economic Corridor. Investors from many countries are waiting for a clear development of Thai politics. But Chinese investors are not because they understand Thailand. They are quickly investing in export-oriented production. The relocation is good for creating jobs and raising investment but inbound investment must be balanced,” Mr Kriengkrai said.
He urged the government and the private sector form a joint war room to assess the impacts of the China-US trade war on individual industries and jointly work out new investment strategies of the country.
The private sector also wanted the government to work out new markets for Thai exports as the trade war was likely to limit export growth at 0-1% this year, Mr Kriengkrai said. (TNA)
