Let market mechanism rule: exporters
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Different comments from enterprises in several sectors reflect different benefits they have taken out from baht floatation since July 2 of 1997. Sound like many exporters have not adjusted their competitiveness in a bid to learn the next unprecedented cha
“We hope the government will manage in the same direction as the country’s trade rivals, not just focusing on such developed exporters as Japan, South Korea and Taiwan…The government should balance a fiscal and monetary policy…promoting more investment abroad to weaken baht,”
Vallop Vitanakorn, chairman of Hi-Tech Group – Thailand’s leading garment manufacturer and exporter
“The exporter sector have enjoyed baht weakening for five to seven years after its floatation…they must adjust their businesses’ competitiveness in response to a higher degree of currency volatility. Hopefully, the government will also manage baht in fair practice without any political intervention”.
Paiboon Ponsuwanna, chairman of the Thai National Shippers Council and managing director of Transamut Food
“The current Bt32 of Thai baht against US dollar is too strong. Thailand has been recovered from its 1997 financial crisis in a result of baht devaluation…
At the moment, the dollar is being depreciation continuously and that will make baht to be more stronger, with the tendency to reach below Bt30 against the US dollar. And that will impact negatively to the export sector, in which the country is relying on quite heavily”
Boonchai Chokwatana, president of Saha Pathanapibul, leading trading manufacturer and exporter of consumer products
“I expects baht will be managed in a balance to support both imports and exports”
Vichai Sriprasert, president of Riceland – one of Thailand’s leading rice exporter.
