BOT monitors impacts from trade war on Thai economy

BANGKOK, April 10 (TNA) - The Bank of Thailand (BOT) is monitoring both positive and negative impacts from a possible trade war between the United States and China on the Thai economy in the coming months. Speaking at a business seminar entitled the "Symbol of Your Visionary", organized by Kasikornbank (KBank) in Bangkok on April 9, BOT Governor Veerathai Santiprabhob said although there should not have any serious impact on Thailand from the possible US-China trade war, the Thai central bank is monitoring the updated situation. Veerathai explained that countries involving in the possible trade war may export more goods to the ASEAN Community (AC) instead, particularly steel and aluminum products, as well as washing machines, leading to more competition in the 10-nation bloc, where Thailand is a member country, and inevitably affecting Thai producers and exports of the products despite a comparatively small amount of Thai exports of the products to the US market. The BOT governor pointed out, however, that the possible trade war should become a good opportunity for Thai exporters who can ship more goods, especially the steel and aluminum products, as well as washing machines, to the immense US and Chinese markets. (TNA)