Private sector to join political reform initiative

Deputy Prime Minister Varathep Varakorn on Thursday sought a meeting with representatives of the Joint Standing Committee on Commerce, Industry and Banking. The committee consists of the Thai Chamber of Commerce, the Federation of Thai Industries and the Thai Bankers Association.

In a statement, FTI chairman Payungsak Chartsutipol said that FTI would join the reform initiative. "If the political structure is properly designed, the economy would prosper like in the United States and the United Kingdom. This will also improve people's quality of life," he said.

Isara Vongsukolkit, chairman of Thai Chamber of Commerce, said that the economy can't be detached from politics. Political stability is helpful for long-term business planning. He noted that it is difficult to explain the current situation to businessmen, investors or ambassadors. He believed that a dialogue is a good start to achieve reconciliation. 

Thai Bankers Association secretary general Twatchai Yongkittikul asserted that the current political situation is of grave concern to the private sector. There are fears that the conflicts would linger on and affect the country's prospect when the Asean Economic Community kicks off in 2015. This stage should be supported, he said. Once unity is restored, it will bolster the economic prospect.