Ford to expand investment in Thailand

NONTHABURI, THAILAND, March 24 (TNA) - Senior executives of Ford Motor Co have confirmed that the US-based major car manufacturer is ready to continue expanding investment in Thailand, as it has full confidence that the Thai Kingdom could become an auto hub in the region. Thai Commerce Minister Apiradi Tantraporn told journalists that the confirmation was given during her talks with Ziad S. Ojakli, Senior Vice President, and Stephen E. Biegun, Vice President for International Government Affairs, of Ford Motor Co at her ministry on the outskirts of Bangkok on March 23. Apiradi said that Ford Motor Co plans to produce up to 40,000 pickup trucks, Ford Ranger, in Thailand annually for exports and more than 10,000 additional workers will be employed, with the increased production expected to start by October 2016. Apiradi noted that the strong determination to invest more in Thailand results from the senior executives' full confidence in the Thai government's policy on supporting the domestic auto industry to become one of the 10 major industries in moving the Thai economy. Currently, the Commerce Ministry acknowledged, Thai exports of vehicles capture 12 per cent of the country’s total export annually, earning the Thai Kingdom approximately 25.6 billion US dollars. The minister revealed that the Ford executives also asked about the progress of talks between the Association of Southeast Asian Nations, including Thailand, and the 10-nation bloc's six dialogue partners, including China, Japan, South Korea, India, Australia and New Zealand, on the Regional Comprehensive Economic Partnership (RCEP) framework as they believe the conclusion of RCEP could help further boost Thai auto exports. According to the minister, she told the Ford executives that the RCEP talks have been on progress and should be concluded later this year, while Thailand is also studying on pros and cons of joining the Trans-Pacific Partnership (TPP), which was established late last year, with a final decision expected within 1-2 years. (TNA)