UK, US ambassadors to meet Krirkkrai

British Ambassador to Thailand David Fall will today meet Commerce Minister Krirkkrai Jirapaet to seek assurances about the ministry's policies after the change of government, a source said yesterday.
The US Ambassador to Thailand, Ralph Boyce, is also scheduled to have his first official meeting with the new commerce minister shortly. A ministry source said the main focus of Fall's discussions with Krirkkrai would be an amendment of the Foreign Business Act that might affect investments of British companies in the country. The Business Development Department's finding regarding the use of Thai nominees in the Shin Corp takeover by Singapore-based Temasek has raised concerns among foreign companies investing in Thailand. The source said the British ambassador would also discuss the proposed Retail Business Act with Krirkkrai. The conflict between Thai local retailers and multinational retailers, especially UK-based Tesco Lotus, has also worried multinational enterprises about controls over the expansion of foreign business in the country. The Internal Trade Department has passed on the draft of the Retail Business Act to the commerce minister. The draft is awaiting Cabinet approval. If approved, the law will help local retailers resist aggressive expansion by giant foreign chains. The Act was drafted in 2003 but never implemented because of a lack of firm support from the Thaksin government. Other points that will be discussed today are outward and inward investment promotion between Thailand and the UK, and the Commerce Ministry's policies regarding foreigners doing business in the Kingdom.
Petchanet Pratruangkrai
The Nation
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