Korbsak: 'Lucky we didn't have a coup'
- Published: 3/07/2009 at 12:00 AM
- Newspaper section: Business
Thailand was very lucky to have avoided a coup after the Songkran riots but political uncertainties will not go away under the current coalition government, Deputy Prime Minister Korbsak Sabhavasu says.
Addressing the British Chamber of Commerce Thailand (BCCT), Mr Korbsak said politics had calmed but "difficult and challenging" conditions remained partly due to continuing agitation by red-shirted anti-government protesters.
"We were able to restore peace after the Songkran incidents without a coup. [But] don't expect anything better than that," he said.
Yellow-shirted protesters under the People's Alliance for Democracy (PAD), who helped oust exiled prime minister Thaksin Shinawatra, have established a new party to enter parliamentary politics.
Meanwhile, reports of two committees set up to investigate the Songkran riots and find solutions for political reform are due at the end of the month.
Mr Korbsak said the economic challenges included surging oil prices, low liquidity and a continuing fall in exports.
"The [Bank of Thailand] has cut rates four times from 3.45% to 1.25%. I wish they would do more," he said.
Steve Buckley, director of Trade and Investment at the British Embassy in Bangkok, recommended that the Thai government put more effort into promoting the agricultural sector, which he sees as the country's key strength.
Last year marked the first time that bilateral trade between Thailand and Britain reached 3 billion, helped by Thai cooked chicken exports, he said.
He also said Thailand should maintain its competitiveness by looking at how other countries in the region attract foreign investors. "During ... a global economic slump, you need to offer more than others," he said.
In another development, the American Chamber of Commerce in Thailand repeated its call for local customs procedures to meet international standards. President David Carden said complicated and unfriendly customs procedures were a key obstacle for foreign investment.
Relate Search: Minister Korbsak Sabhavasu, British Chamber of Commerce Thailand, People's Alliance for Democracy
About the author
- Writer: NAREERAT WIRIYAPONG and CHATRUDEE THEPARAT
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