Economy June 23, 2014 00:00

By The Nation

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Joint chambers to suggest reform proposals to NCPO shortly

The Joint Foreign Chamber of Commerce in Thailand will submit their economic reform proposals to the National Council for Peace and Order (NCPO) in early July, Stanley Kang, chairman of the JFCCT, told The Nation.

The economic and economic-structural changes that will be proposed by the JFCCT include reform in anti-corruption efforts, liberalisation of the service sector, the development of education and skills, the positive outcomes of Asean Economic Community integration, efficient functioning of strategic |sectors such as Information and communications technology, and support for tourism.

The JFCCT is the umbrella organisation for various foreign chambers of commerce and business associations operating in the county, with 29 member bodies representing more than 8,500 companies.

DBS suspects exports and imports dropped in May

Thailand was likely to have experienced a continued drop in exports in May due to soft external demand, DBS Research has said.

The Commerce Ministry will release the May trade figures this week. DBS expects exports to remain in negative territory, falling 1 per cent year on year.

It also expects the annualised figures to show 2-3 per cent growth from last year.

It also expects another double-digit contraction in imports in May at 17 per cent. So far this year exports are 10 per cent lower than 2013.

Consequently, Thailand should record a trade surplus of US$1 billion in May, compared to a $1.5 billion deficit in April.