All out to woo the young in Thailand

Politicians agree the key to victory in the coming polls are the younger generation and they are all out to impress them.

BANGKOK: Research has shown Brexit is the UK and the European Union’s problem only, said Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organisations (Fetco).

He argued that in the worst-case scenario where the UK leaves the EU with no-deal, the Thai economy may only take a 0.1% to 0.2% hit to its Gross Domestic Product (GDP), while the UK would go into a recession in 2020, with a GDP growth contraction of 0.6%, from an original forecast of 2% growth.

The Commerce Ministry’s Department of Trade Negotiations (DTN) views the economic impacts of Brexit on the Thai economy as being unclear.

“The impact of recent developments concerning Brexit are still unclear, but Brexit will mostly impact the UK’s economy,” said Auramon Supthaweethum, DTN director-general.

The UK has preparing its customs to cope with Brexit for some time, and predicted Thai trade was unlikely to be disrupted, she said.

“For example, they are prepared to establish and manage their own trade customs with their own customs officers,” she explained.

However, the prospect of the UK leaving the EU may complicate the free trade agreement negotiations between Thailand and the EU. — The Nation/Asia News Network