• 
• 

He met yesterday with Commerce Minister Chaiya Sasomsap to discuss trade and investment issues that could benefit both countries' economy.

John said Barack Obama's presidency would not affect his country's trade and investment policies. Thailand and the US enjoy close relations as important trading partners, and that will continue, Chaiya said after the meeting.

"Ambassador John said the environmental and labour policies of the new president should not affect Thai exports to the US. He also said the government should conduct a roadshow to enhance Thailand's image internationally, as news about the political turmoil has not been good for the country," said Chaiya.

He explained the US would likely reduce their imports, due to sluggish economic growth. This could affect Thai exports, so Ambassador John suggested the roadshow.

The US is Thailand's second-largest export market after Japan, accounting for 11.3 per cent of the Kingdom's exports. In the first nine months of the year, Thai exports to the US grew 8.5 per cent year on year to US$15.3 billion (Bt535 billion). US investment here amounts to Bt20 billion, 8 per cent of the Kingdom's total foreign direct investment.

During the meeting, John said despite the slowdown in the US economy, American entrepreneurs, especially in the garment industry, were still interested in investing abroad, including in Thailand.

In addition, Washington has praised Thailand's stringent crackdown on intellectual-property violations, which should ensure the upgrading of Thailand's trade status next year, said Chaiya.

However, the US has complained about stringent conditions of the Foreign Business Act (FBA), which allows only the top executive of a multinational firm to attend FBA committee meetings.

The US has asked that Thailand amend some regulations under the Act, to facilitate foreign companies' operation. For instance, the FBA's committee should allow lower-level executives to attend the meeting in place of the top executive.