Germany confident in Thailand's economic potential

BANGKOK, April 29 (TNA) - Germany is confident in Thailand's economic potential, policies and market mechanisms, while promising to maintain Berlin's cooperation with Bangkok on alternative energy, industries and workers' skill development, as well as know-how and technological exchanges. The stance came from the visiting Deputy Minister-President and Minister of Finance and Economics of the German Federal State of Baden-Wuerttemberg, Nils Schmid, during his meeting with Thailand's Caretaker Prime Minister and Defence Minister Yingluck Shinawatra at the Office of the Permanent Secretary for Defence on the outskirts of Bangkok on Tuesday, aimed at enhancing relations between the German state and Thailand and promoting bilateral cooperation, especially on industries and workers' skill development. On the occasion, Schmid also praised the strength and potential of Thai business operators and insisted on maintaining cooperation with them on alternative energy, as well as technological and expertise exchange to mutually increase the values of their products. Schmid and Yingluck also exchanged their views on Thailand's political situation, with the visiting Deputy Minister-President and Minister of Finance and Economics of the German Federal State of Baden-Wuerttemberg opining that Thailand would be able to solve domestic political problems through democratic means. However, Dr. Schmid, who is paying an official visit to Thailand from April 27-29, earlier suggested, at the reception held at the Residence of the German Ambassador on Monday, that it is important for Thailand to limit impacts of the ongoing domestic political strife on the national economy, as Thailand is taking a leading role in Southeast Asia and the upcoming establishment of the ASEAN Community (AC) by 2015 will make Thailand more attractive to German firms. German Ambassador to Thailand Rolf Sculze said at the reception, also attended by Bank of Thailand (BOT) Governor Dr.Prasarn Trairatvorakul and delegates from the Baden-Wuerttemberg’s Chamber of Commerce, that bilateral trade between Thailand and Germany amounted to some 10 billion US dollars last year and foreign direct investment (FDI) from Germany in Thailand is on the rise, with about 600 German companies doing businesses in the Thai economy currently. The visiting Deputy Minister-President and Minister of Finance and Economics of the German Federal State of Baden-Wuerttemberg also met Thailand's Caretaker Deputy Prime Minister and Finance Minister Kittirat Na-Ranong, while witnessing the signing of a joint declaration of Intent during his meeting with Thailand's Caretaker Education Minister Chaturon Chaisang, aimed at boosting relations in the fields of vocational education and training between the German State of Baden Wuerttemberg and Thailand. Besides, the visiting Deputy Minister-President and Minister of Finance and Economics of the German Federal State of Baden-Wuerttemberg opened the Baden-Wuerttemberg Forum on the “Customised Automotive and Production Engineering Solutions from Baden-Wuerttemberg for Thailand at Bangkok International Trade and Exhibition Centre (BITEC) on Monday. The visiting Deputy Minister-President and Minister of Finance and Economics of the German southwestern state, the third largest federal state in Germany and home of renowned German companies like Daimler, Bosch and SAP, is also scheduled to visit Malaysia and Indonesia, after ending his three-day official trip to Thailand. (TNA)