- POSTED: 07 Jan 2014 18:26
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Thailand's private businesses, including exporters and gold traders, are prepared to cope with a shutdown in Bangkok from January 13, reported Thai News Agency (TNA). The shutdown was announced by the anti-government People's Democratic Reform Committee (PDRC).
BANGKOK: Thailand's private businesses, including exporters and gold traders, are prepared to cope with a shutdown in Bangkok from January 13, reported Thai News Agency (TNA). The shutdown was announced by the anti-government People's Democratic Reform Committee (PDRC).
Nopporn Thepsitthar, chairman of the Thai National Shippers' Council (TNSC), acknowledged on Tuesday that the ongoing domestic political situation has affected cargo transport and slowed down business transactions.
Nopporn told journalists, however, local exporters are used to such "unusual circumstances" including protests and a severe flooding in late 2011, and they have gained experiences from it and postponed their cargo deliveries.
He noted that overseas buyers were somewhat concerned over the punctuality of Thai export deliveries and some buyers might order food, textile and electrical appliances from other rival countries.
Nopporn said that the value of Thai exports should grow by 5-7 per cent year-on-year in 2014, as expected, because of the economic recovery of Thailand’s trading partners.
He viewed the US, Japan, Europe and China as major markets for Thailand to maintain.
According to the TNSC chief, Thai exports which benefit from the depreciation of the Thai baht included lowly-profitable goods, namely rice, while imports were normally affected by the weakening Thai currency.
The TNSC chief pointed out this year's bright prospect rested with Thailand's exports of chicken, prawn, electrical appliances, electronic equipment, automobiles, auto parts and garments, thanks to the upcoming 2014 FIFA World Cup in Brazil.
Jitti Tangsithpakdi, president of Thailand's Gold Traders Association, suggested if protesters block roads and pose serious risks, affected gold shops should close, but those not affected by the protest could carry out business as usual.