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BANGKOK POST ~ t JANUARY 2016 GR CULTJ
hmiddot middots es
rmiddotce sales PHUSADEE ARUNrllAS Commerce Minister Apiradi Tantraporn tonnes a month starting early this year
said on Dec 3 the goverrunent Vas expected In addi tion Thailand is in the process The Thai government aims to sell over io sign a deal soon to seU an additional of delivering the remaining 100000 tonnes 2 million tonnes of rice this year on a million tonnes of rice to China of rice to China under an earlier deal for goverrunent -to-govemment (G -to-G) baSIS Mrs Apiradis announcement came after 1 million tonnes struck by the Yingluck
But it adJTiits a renewed attempt to seU the ministry signed a deal to seU 1 ffiillion Shinawatra government rice to Iran may hit a snag because of escashy tonnes of nce to tlle Chlria Nanonat Cereals Ms Chutima said additional interest was lating political conflict in the Middle East oils and Foodsriifts Corpora non a Chlriese exPected from Indonesia and the Philipshy
lthutima Bunyapraphasara Comshy state-owned tood conglomerate The Dec pines because of anticipated lower supply merce Ministry permanent secretary said 3 deal was part of a 2-million-tonne lot lor from drought conditions the governl lent has a o1ernonndurn or which Thii ilanci and China signed a MoO The mini stry set a target of 9 million
understanding (Mo ) with China ror I in December 014 tonnes of riLe shipments this year worth rnilliOillO1 lCS Tile -icc delivery amuums to 100000 $478 billion Last year Thailand was
projected to ship JO million tonnes worth $51 billion
She said the national rice policy comshymittees meeting chaired by Prime Minshyister Gen Prayut Chan-o-cha late last year endorsed a plan to sell the governments rice stocks on credit
The commerce and finance ministries were tasked with jointly considering the credit line for potential buyers particularly for purchases bound for new markets
The Commerce Ministry reported in late 2015 that since the May 2014 military
coup a combined 827 million tonnes had been sold from 187 million left over from various rice schemes fetching 103 billion baht It sold 487 million tonnes via aucshytion earning 526 billion baht while G-to-G sales tallied 34 million tonnes worth 50 billion baht
Of the rest 12 million tonnes were catshyegorised as Grade P which passed ministry certification and is a mix of Grades A and 13 or in slightly poor conditiol1 and ill need of sorting for improvement Some 6 millio l tonnes were reted substandard
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BANGKOK POST ~ JANUARY 20166 DIPLOMACY
Ira11 roa show meets set a k PATSARA JIKKHAM PHUSADEE ARUNMAS ACHARAASHAYAGACHAT
The goverrunents investment roadshow in Iran led by Deputy Prime Minister Somkid Jatusripitak scheduled for late tills month could be delayed following tensions that erupted between Saudi Arabia and Iran
Chutima Bunyapraphasara permanent secretary of the Conunerce Mirusay saJe the roadshow could be delayed until the situation is clearer
The roadshow scheduJed for Jan 31-Feb 3 is aimed at boosting diplomatic ties and promoting trade and investment between the countries
Mr Somkid and his economic team plan a series of roadshows to China South Korea Germany India the US and Iran in the rlIst half of this year to push Thai trade interests
The roadshow plan comes after Western
powers reached an agreement with Iran last year to lift most trade sanctions in exchange for limits on Irans nuclear programme
Confirming news of a possible delay Foreign Minister Don Pramudwinai said middot the government was monitoring Saudi-Iran tensions
The Saudi -Iran dispute was not disshycussed directly at yesterdays cabinet meetshying he said
However the government does not believe the escalating row is likely to affect trade ties
The government and the Thai embassies in Iran and Saudi Arabia were evaluating the situation he said
Chantira Jirrueivat Vivatrat deputy chief of the Department of International Trade Promotion said Iran coUld be a potential new market for Thailand
The country has bought hundreds of thousand of tonnes of rice from Thailand in tile past and is pushing a policy to develop
about 20 new cities from which Thailands construction sector could benefit
Saudi Arabia has severed diplomatic ties with Tehran amid a dispute over Riyadhs execution of an opposition Shia cleric at the weekend and attacks on Saudi diplomatic posts in Iran
Mr Don said what has happened between Saudi Arabia and Iran was a symshybolic gesture intended to vent frustration
He did not think it would hurt Thailand or spread to other Muslim nations
Sugree Langputeh Fatohni Universitys senior scholar said the Iran-Saudi conllict has existed since the first Iraq war but there should be no in1pact on Thailand as Bangkok deals ovith the Arab world as an international partner not based on religion
As Thailand also has to act politely toward Saudi Arabia due to our sour relashytions authorities vill not do any-J1ing careshyless With Iran we also have good relations Mr Sugree said
THE 2016NATION
JEERAPONG PRASERTPOLKRUNG The Cabinet agreed that we phasara permanent secretary of the PETCHANET PRATRUANGKRAI should wait and see what happens for Commerce Mmlstry said the mmshyTHE NATION a while before making a decision on istrywould hold ameetmgonJanuary
the next step We hope the situation 20 to evaluate the Impact the conthct THAILAND will close ly monitor tenshy rill get better he said was haVlng on Thailands trade sions in the Middle East which have The Thai embassies in Iran and At thIS stage Thai shipments to turned into a ful I-blown issue as Saudi Saudi Arabia rill keep the governshy Middle East countries should not be Arabia and its allies either cut or ment updated on the situation Don affected by the conflict as most of reduced ties with Iran in response to said adding that information availshy them have to pass a third country the storming ofthe Saudi Embassyin able online would also help them However the ministry will call for Tehran Foreign Minister Don monitor the situation Theembassies Thai trade officers overseas particushyPramudrinai said yesterday are checking on the number ofThais larly those in the Mideast to estimate
The mission was stormed after in the two countries though the sitshy the impact and come up rith exportshylliyadh executed a prominent Shiite uation has not reached the point of driving measures she said Muslim cleric on Saturday evacuation She added that Deputy Prime
Don was speaking after attending The situation is not haring an Mimster Somkid Jatusripitaks offishya weekly Cabinet meeting at which impact on Thais liring there yet the Cial VlSlt to Iran scheduled tor thIS he said the government was informed minister said month might have to be postponed about the crisis Meanwhile Chutima Bunyapra- We will monitor the situation
The move comes after Sunni-ledbefore deciding about Somkids risit Saudi Arabia and Bahrain severed ties If it is delayed the government may with Iran while the United Arabneed to suspend its plan to sell rice to Emirates recalled its ambassador andIran she said adding that Iran was downgraded ties with Iran Bahrain still ~ne ofthe target markets forThai Kuwait Saudi Arabia and the UAErice shipments in the future are me~bers ofthe Gulf Cooperation Council along rith Oman and QatarKuwait recalls envoy The attacks represent a flagrant breach of international agreementsShe explained that Iran used to and norms and a grave riolation ofimport tens of thousands of tonnes Irans international commitments forfrom Thailand every year the security of diplomatic missions Meanwhile Kuwait became the and the safety of diplomats the offishylatest Arab state to recall its ambasshycial Kuwait News Agency (KUNA) sador from Iran to protest against cited the countrys Foreign Ministryattacks on Saudi diplomatic missions
It did not however eAPel Tehrans as saying ambassador or dovvngrade the level of diplomatic relations Arith Iran
THE 2016
LATEX PRICE SLUMPS BUT GOVT HAS LIMITED CASH PM SAYS
THENATION
THE GOVER1TMENT is facing a looming protest from rubber planters in the southern provinces and elsewhere who have been hit by extremely low latex prices which have already dropped to abou t Bt25 per kiloshygram due to the global comshymodity price slump
Prime Minister Prayut Chan-o-cha said yesterday that the government had limited funds to help farmers as rubber planters in the southern provinces of Nakhon Si Thammarat and Trang sought extraordinary meetings of provincial councils of farmers tomorrow and Friday respecshytively in a bid to press for more government help
A southern rubber planters network will also hold a meetshying on the issue next Thesday
Niwat Soonsan chairman of the Trang councils working group on rubber plantations
said the price slump had serishyously hurt many planters in provinces natiomvide
Previously planters in 16 southern provinces threatened to rally due to the price slump
Niwat said his farmers cou nshycil needed to find measures to help members and forward the proposals to Bangkok via the governor
He complained that the govshyernment had not taken enough action to prevent latex prices from falling thus hurting the livelihood of rubber planters and their families
Farmers have also blamed middlemen for causing dovnshyward pressure on latex prices as they seek profit margins of Btl 0-Bt12 per kilogram Planters say a fair profit should be Bt4-Bt5 for converting latex into smoked rubber sheets
Prayut said there are limited public furids to help farmers because it was not possible financially for the government
to cover every project including health care and the rice and rubshyber-subsidy programmes
The prime minister added that crude oil prices have plunged to record lows worldshywide which has been a keyfacshytor underlying the global comshymodity and rubber price slump
Wanichsan Ruangsri a mershychant in Trang said he had to stop selling rubber seedlings during the prolonged slump as some planters had svitched to other crops such as palm and fruit trees
Suffering workers angry Aree Sina a worker in a
Trang rubber plantation said her family was suffering due to the price slump and urged the government to find remedies to help tappers
She said she would join a rally against the government since she and her husband now earned less than Bt300 a day
which was not enough to keep their children in school
Aree said the price had to rise again to about Bt60 per kilo to make itviable for people to work on rubber plantations
Another worker Somjai Noonsong said her family had incurred debts because of declining income from working in the rubber plantations She said she would also join an antishygovernment rally
The government last year approved a budget of Bt12 bilshylion to help owners and workshyers of rubber plantations According to this assistance programme plantation owners received 60 per cent ofthe subshysidy or Bt900 per rai while workers received the remaining 40 per cent of the money or Bt600 per rai
In 2014 the government also allotted considerable funds to help rubber planters when the price fell to about Bt33 per kiloshygram The measures included a subsidy of Bt2520 per rai and a credit facility worth Bt5 billion to shore up prices
POST JANUARY 2016BANGKOK
Infrastructure and agriculture in focus
CHATRUDEE THEPARAT
The government is focused on stimulatshying the domestic economy and promoting commW1ity-based enterprises in the first half of the year as the global economic recovery appears set to remail) sluggish
Deputy Prime Minister Somkid )atus- ripltak satd yesterday at a cabInet meenng frlat ill light of the weak global economy Thai exports were wilikely to help as much as in the past while state investment in infrastructure projects such as rail and mass aansit would take until the latter half of the year to bear fruit for the economy
The government thus needs to rely on local works such as water supply develshyopment for agriculturatpurposes in rural areas agricultural product processing and
machinery support In a bid to boost the domestic econshy
omy Mr Somkid recently asked Suwaphan Tanyuvardhana the Prime Minisiers Office minister to organise a workshop among the 1300 leaders who handle Village Funds to urge tbem to speed up disbursement
Private-sector groups such as the Federation of Thai Industries and the Thai Chamber of Commerce (TCC) have agreed to join the government in develshyoping community-based enterprises and functioning as a distribution and marketshying channel for local products
The government also aims to promote construction of community rice mills and cenaal silos and foster investment in necshyessary equipment for crop production
Officials Aillset up a panel on developshying the grassroots economy with memshybers to include representatives from government agencies state banks civil society and the TCC
ir Somkid said tourism would also be
a major contributor to the economy this year and be called on related agencies to boost tourism in provincial areas
The goverrunent must invest heavily in Improving facilities at tourism spots he said
Tambon and provincial adminisshytrations will become instrumental in developing tourism destinations and community-specific products
Gen Tanasak Patimapragorn the deputy prime minister overseeing the Tourism and Sports Ministry told the cabinet that the ministry would focus on attracting better-quality visitors who spend more
The ministry said foreign tourist arrivshyals reached 2999 million in 2015 Overshyall tourism revenue totalled 22 trillion baht of which 14 rrillion was from forshyeign tourists
Foreign tourist arrivals are expected to increase to 325 million this year while tourism revenue is estimated at 23 trilshylion baht
POST JAtlUARYBANGKOK 2016
development of special economic zones Good prospects are anticipated for
automotive and parts gems and jewelshylery frozen and processed chicken elecshytronics appliances construction materishyals machinery and parts cosmetics and pharmaceuticals gifts and souvenirs and home furnishings and decor
Other sectors such as spa and healthshycare services entertainment cransport and
logistics education hospitals and conshystruction are tipped to boost export growth in the year ahead
The goverruuent is upbeat about shipshyments to Cambodia Laos Myanmar and Vietnam as well as Australia India China the US and the EU
Lower shipments are expected for Japan the lvIiddle East and Africa
According to Mr Nopporn 2016
States 5 forecast seen as too optimistic
PHUSADEE ARUNMAS
Exporters are less bullish than the state about shipment prospects in 2016 projectshying 2 growth against the governments 5 forecast
Nopporn Thepsithar chairman of the Thai National Sh ippers Council said yesterday tha t elltports fetched an estishymated US$177 billion in December 2015
down 553 year-on-year leaving fullshyyear exports at $215 billion down 55 from 2014
He said epon performance in the last three month of 2015 was dragged down by the sloing Ch inese economy volashytile foreign exclumge in Asia after Chinas devaluation of the yuan and continuously falling prices fo r crude oil crops and other commodities
The Commerce Ministry reported last mo~th that exports plunged for an middot11 th straight month in November prompting the ministry to confirm that full -year shipshyments might fall by 55 instead of the 3
seen earlier For the first 11 months of 2015 shipshy
ment value fe ll by 551 year-on-year to $197 bil lion with imports during the period fall ing by 112 to $187 billion f hailand saw it trade surplus of$102 bilshylion for the II -month period
The go vernment has set an export growth target of5 this year to an estimated 5225 billion in 2016 or an avershyage of $188 billion a month banking on a global recOIery s timulus measures and
shipments could manage growth of 2 topping out at roughly $219 billion or an average of $182 billion a month
There remain persi stent risk factors such as the slow pace of the globalrecovshyery foreign exchange volatility widenshying international conflic ts and narushyral disasters
We all agree that Thailands exports in 2015 possibly bottomed out but it will
become very challenging if the governshyment wants to achieve 5 growth this year as it aspires Mr Nopporn said
However we the private sector are ready to join hands lvith the government which has already declared international trade promotion as a rational agenda in which all parties both private and public sector must work closely together to drive ex-port growth
I fshyL
THE NATION 2016JANUARY
Fishery sector hopeful of smoother waters ahead after strenuous attempts to get housein order
PETCHANET PRATRUANGKRAI THE NATION
THAI SEAFOOD enterprises faced a tough year ofengagement in 2015 with non -tariff obstacles to trade inc uding the European Unions Illegal Unreported and Unregulated (IUU) regulations and the United States Trafficking in Persons RepOlt (TIP)
However they ltj-re optimistic that the fishery industry this year can move towards sustainable growth and conshytinueto have unfettered access to every market following strenuous attempts bythe government and the private secshytor to tackle problems du ring the past 12 months
Businesses in the sector - medium and large-sized companies in piuticshyular - stress they have already adjustshyed their operations and developed new supply chains as palt oftheir commitshyment to comply with international standards
Although it has not yet been severeshyly affected by the IUD regulations or the TIP report the Thai fishery sector accepts thatthe EU and US measures have had a psychological impact on the image of the countrysfisheryprodshyucts
The Kingdoms frozen-food indusshytry employs about 300000 workers Seafood e)Ports in 2014 totalled
US$642 billion (Bt231 billion) with about 24 per cent being shipped to the US and 12 per cent to the EU market
According to the Commerce Ministry Thai fishery exports dropped 153 per centto $452 billion d uringthe first 10 months oflast year
However fishery companies have said this was due to the global econoshymy and an overall slowdown in tradshying as opposed to IUD or TIP-related issues
Fishery products accounted for 25 per cent of overall Thai export value during the period
Enterprises insistthey have already eliminated elements of their supply chains that were found to have been involved with illegal employment or forced labour
While they acknowledge it is diffishycult to ensure that100 per cent oftheir supply chains are free from forced labour companies say they have already learnt to adjust and commitshyted themselves to meeting internashytional standards
Somsak Paneetatvasai resident of the al mmpAssociation said the government and private enterprises had been vvorkingstrenuously overthe past year to solve the problem of illeshygal employment
He said some small plants in the supply chain such as peeling sheds
may use forced labour but once large enterprises or members of the Thai ShrirnpAssociationortheThai Frozen Foods Association (TFFA) recognise the problem illegal operations were immediately cut from the supply chain
Somsak said since many small enterprises were involved in the supshyply chain - from hatcheries shrimp farmers and suppliers offeed-meal to medical-equipment providers and fishery expolters - it was difficult to investigate eve subcontractor
However if any enterprises were found to be involved with illegal employment they were immediately eliminated from the supply chain he stressed
As an immediate measure to elimshyinate illegal labour the TFFA has moved to eradicate third-party preshyprocessing operations from the shrim p supply chains of its members a step that took effect at the end oflast year
All members oftheTFFA must nmgt bring shrimp pre-processing operashytions in-house in orderto exercise full control over the work conditions of
employees in the extended supply chain
TFFA president PojAramwattanashynon said that in support of the transishytion the association -vould work -vitb local non-government organisations to offeremployrnent opportunities to workers who were previously employed by external pre-processors
Moreover he added TFFAcompashynies have signed on to strict rules regarding employment conditions aimed at eradicating human traffickshying and iJlegallabour practices
As an association and a represenshytative of Thailands seafood industry we are committed to fighting against human-rights violations and illegal labour in the supply chain he said
Poj added that enterprises would continue to work with aJl stakeholders to address critical issues for the indusshytry
In a significant initiative that will help to strengthen oversight of theThai shrimp supply chain any association members thatcontinue to source from external pre-processors will face the severe consequences of losing their membership and the ability to export their products he said
Large enterprises have also promshyised tooperatetheirown supply chains from upstream to downstream so that foreign buyers and thegovernmentcan
easily investigate the supply chain to ensure that employment is not coerced
Seafood companies have said they are ready to undergo inspections by any international organisation over their handling of illegal fishing and human trafficking
Close cooperation with authorities Companies have also eA-pressed a
commitment to continue working closely with Thai authorities to tackle such issues even if Thailand is removed from the bottom Tier 3 of the TIP report orifit is upgraded from the EUs current yellow-card status under IUU regulations
llittirong Boonmechote president of the Global Shrimp Business Unit of Thai Union Group said businesses would not only take steps to comply with international standards related to the fisheD industry but would also focus more on the sustainable gTowth of the sector which would in turn ensure environmentally friendly proshyduction
Thai Union Group and other seafood producers will lend fuJI supshyport to the government to tackle illeshygal fishing and human trafficking in order to retain the US and the EU as major markets he said
S ~ F OD EXPO T
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Source The Nation Ni1rlON GRAPHICS
REPORT SAYS 5000 LOST JOBS IN OUTSOURCING BAN
PRATCH RUJIVANAROM THE NATION
THE Thai Frozen Foods Association (tFFA) wili dIscuss plans on Saturday to heffi seafood pre-processing sheds and t eir employees TFFA president Poj Aramwattananont saiq yesterday fIe was responding to a report that morethan 5000 workershad losttheir jobs due to measures to promote fair labour practices
International media reports about the use offorced labour have put presshy
sure on Thailands seafood industry since late last year forcing the TFFA to ban members from employing outshysource pre-processing sheds This caused many workers to lose jobs as small firms had to close down
Poj said his association and its member companies had not abanshydoned former business partners They had been trying to help outsource firms and their employees
I understand and sympathisevvith the seafood pre-processing shop ownshyers as we used to work together he said
In order to save seafood trade expOlts to Western markets we have to have this strong policy But we will not neglect them for sure
Given news reports offorced labour -notablyshedsthatpeelshrimptradshying partners in the US and EU have taken the issue very seriously
As a result Poj said members ofhis association had been forced severe ties with smaller pre-processing sheds entirely to make sure that Thai seafood exports were not produced with forced labour at any point in the supply chain
The majority of our members did not use the seafood supplied by sweatshy
shops and only some shops use forced or child labour But this is enough for Western markets to turn down all seafood products from Thailand Poj explained
Therefore this action is important for the survival of the Thai seafood indusny
Hesaid association members would meet with owners of the now-closed pre-processing sheds on Saturday The TFFA is urging its membersto hire workers who losttheirjobs because of the new labour measures
Sompong Srakaew founder of the Labour Rights Promotion Network (LPN) said the seafood industry had taken very severe measures to tackle labour-related problems successfully reducing forced and child labour but also negatively affecting many shops that had been operating legally
The measure caused shops that used forced labour to close down and thats a good thing Sompong said However some ofthe pre-processing shops had already applied good labour practices regarding their employees and they were badly affected as well
Some ofthem had invested more than Btl million to upgradetheirfacilshyities recently and their investment may be lost
As our organisation promotes just and good working conditions for migTant workers we would like to see good practices for the workers as well as the good businesses surviving
In regard to fears that manyforeign workers could remain unemployed because of the new measures Som pong said he expected larger comshypanies would hire workers when expanding lines of production to make up for the closure ofthe pre-processshying firms
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BANGKOK POST ~ JANUARY 20160 lIegaprojects Pllt upbeat note onGDP PAWEE SIRIMAI
Thailands 2016 GOP-will grow by3-35 as government spending plays a major role in boosting the economy predicts the joint Standing Committee on Commerce Indusshytry and Banking OSCCIB)
Isara Vongkusolldt chairman of the Thaimiddot Cnarnber of Commerce saId the )scCrBs grolNth forecast is based on the governshyments investment in mega infrastructure projects and a thriving tOLUism sector
Government spending will have a good impact on the economy It will be the main engine to drive the economy alongside the recovery in tourism he said
The Bank of Thailand expects GOP to grow by 35 this year
Mr Isara said the tourism industry would remain strong and benefit from an expected 35 rise in Korean visitors while the number of Chinese and Japanese tourshyists is also expected to increase
The munber of tOLUists will rise substanshytially from 30 million in 2015 he said The jSCCIB forecasts that exports will grow by 2 this year below the Comshymerce Ministrys projection of5
It is hard to see a substantial rise in exports this year when the Chinese econshyomy is growing below 7 The jSCCIB will work closely with the government to boost eXP0rt value to grow by at least 2 in US dollar terms said VIr Isara adding that China still ranks as an important market for Thai exporters
Mr Isara said Asean would remain a major market to boost exports with growth of 10-15 expected this year
He said the economy started to improve in late 2015 especially after the goverrunent issued a tax break for individual spending of up to 15000 baht over the festive season
Supant Mongkolsuthree chairman of the Federation of Thai Industries said the economy was expected to continue to revive this year
However some risks will weigh on growth such as the fragile global econshyomy and another domestic drought that is expected to hit the agricultLUe sector
We believe the government will be able to invest at least 20 of its budget of 19 trillion baht for infrastructure mega proshyjects this year and that should help increase investments from the private sector said MrSupant
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THE NATION ] JANUARY 0 1 6L L
~JjJ~ ~~U ~
MAJOR PUBLIC PRIVATE INVESTMENTS FORESEEN WITH 2 PER CENT EXPORT EXPANSION
THE NATION billion worth of projects a pply for of a sluggish global econo my the launch ofan emergen cy decree for tax investment promotion in 2016 Of countrys drought and global politishy exemptions and promotions was not
TH EJOfNT Standing Committeeon that total about 30-40 per cent or cal conOict~ a tax am neltty but aimed at foreshyCommerce Industry and Ban king 31135 billion to 311S0 billion in Cltina WilScxpccted to seeitseconshy stalling re trospective tax inspections
1JSCCTB11iis fa recast growth in gross investment was projected to be made omy gr() W by no more than 7 per cenl and offerin1 inceotives to co mpliant domestic product of 3-35 per cent this yea r this YClr while Europe would likely busine~ci and 2-per-cent export e-pansion in In addition about 40-50 pcr cent con tinue to see economic slowdowns This measure was expected to 2016 partly due to the governments of Bt2 trillion worth of projects However the baht is e~pected to encourage more s mall and mediumshyeconomic stimulus and publicspendshy approved in 2014 and last year wcre d~pr illte further which could help s ized enterprises to enter the ta sysshying through megmiddota-projects in the pipe line and 20 per eentofthe T hai exporters he said tem
Supaot Mongkolsuthree pres ishy governments Btl9 trillion worth of in regard to tensions betwecn From Januaryl 2019 the [-inanee dent of the FederatIOn ot Th ai mega-projects or about Bt3S0 bilshy Saudi Arabia and [ran T hai land hiS Ministry and the Baok of Thailand [ndustnes said this yea r was e--pectshy lion were estimated to make in vestshy Dot yet seen any impact on trade with vill require s ubmi ssio n of simi lar ed to see no less than Btl5 trillion in ments this year Iran given its small vo lume Isara financial statements as tbosegivell to publ icand private inves tment which Isara Vongkusolki t chairman of said the Reenue Departme nt for c redit result in GDP growth of3 percent the 1nal Chamber ot Commercesald OIl the tax front Prasong requests and that would allow SM Es
He said that the 30a rd of exports were es timated to nse by no Poontaneat Revenue Dtna r tnenl that make tn payment to gain easier (nvestmcntwltS exp tedtoseeBt450 more than 2 per cent t~is year in light directo r-general insistt~ i that a access to capital
Boontuck Wangcharoen chairshyman oftheThai Bankers Association said this measure would be a turning point that could boost the nations competitiveness while SMEs would also find it easier to access funding
TI- e government-supported eshypaymcnt measurc could also les~en the use ofcash which could lead to a finan cia l system with more transshyparency more efficiency and higher capability Based o n thi s system money 11 betransferred via a mobile phone number or an identificationshycard number
The e-payrnent system is e~-pectshyed to commence in the third quarter of this year and to lower expenses by BtlOO billion per yearor about 1 per cent ofGDP
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