FRIDAY, March 29, 2024
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Attacks tipped to hit global trade; BOT watching markets

Attacks tipped to hit global trade; BOT watching markets

BANK of Thailand Governor Veerathai Santiprabhob has described the Paris terrorist attacks as a new risk that could be repeated at anytime.

He said yesterday that all countries should remain vigilant and try to remain calm because there was uncertainty over the consequences of the attacks.
France closed its borders following the tragedy but public transport has not been affected.
At this stage no measures have been implemented by the French capital market in response to the attacks.
Veerathai said the BOT was closely monitoring local markets.
The Commerce Ministry, meanwhile, believed the attacks would not affect Thai exports to France, although they may cause difficulty in the shipment of some products as Paris will raise security on imports, while the Euro currency could be weakened.
Commerce Minister Apiradi Tantraporn said yesterday that Thai exports to France may only face slight impacts in the short term if there are stringent security import measures and a weaker Euro. The stock market would also be hit in the short term, while more investors could shift to invest more in Thai and Asian markets in the near future as there may be lower confidence in the European market.
She said that Thai exports to France account for only 0.89 per cent of total export value. If the value of European currencies is hit, Thai goods could be a little more expensive and that could affect exports in the short term. 
Last year, bilateral trade with France was worth US$4.07 billion, down by 29.99 per cent. Thailand clocked a trade deficit with France of $786.34 million. In the first nine months of this year, shipments from Thailand to France were valued at $1.19 billion, down by 5 per cent, while imports increased 12 per cent to $2.02 billion.
 
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