Japan backs Thailand to become regional hub of new car models

BANGKOK, March 8 (TNA) - Major Japanese car manufacturers have voiced their support for Thailand to become a regional production hub of new car models. Thai Prime Minister General Prayut Chan-ocha told journalists that chief executive officers (CEOs) of Toyota Motor Corporation Kyoichi Tanada, Isuzu Motors Takashi Kikuchi, Nissan Motor Corporation Kazutaka Nambu and Honda Motor Co.,Ltd. Noriaki Abe expressed the support during their separate meetings with him at Bangkok's Government House on March 7. The prime minister said he also discussed with the Japanese CEOs on their trade, investment, exports and on how smooth their business operations in Thailand. The prime minister revealed he informed them as well that the automobile industry is one of 10 major industries his government is relying on to move forward the national economy and his administration wants to see the Thai Kingdom to become a regional production hub for future vehicles. Besides, the Thai government wishes to see manufacturers in the automobile industry expand their production by applying high technology and transfer more knowledge to Thai personnel and small and medium-sized enterprises (SMEs). The prime minister acknowledged that the Thai government is ready to open centres for certain advanced Japanese vehicles and to act as a goods distribution centre, as it is negotiating free trade agreements (FTAs) with some niche markets, including Russia, the Middle East and Africa. According to the prime minister, the Thai government is also considering to join the Trans-Pacific Partnership (TPP) to further boost the national competitiveness and benefit producers using Thailand as their export base. The prime minister pointed out that Thai exports of automobiles hit a record high of more than 1.2 million units last year, worth about 17.59 billion US dollars, a 5.3 per cent year-on-year increase, despite a shrink in total Thai export in 2015. (TNA)