Thai DPM:Asia could play vital role on global economy

BEIJING, June 28 (TNA) - Thai Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, is optimistic that the Asian economy could strengthen and play a significant role after Britain’s decision last week to leave the European Union (EU), or Brexit. Somkid said on June 27, while visiting Tsinghua University in Beijing, that several parties have prepared measures to cushion impacts from Brexit, as they believed volatility would occur in a short term. Somkid pointed out the Asian economy, particularly that of the Association of Southeast Asian Nations (ASEAN) with its overall gross domestic product (GDP) growing 6-8 per cent despite a slowdown on the global economy, could strengthen again on the world economic stage. According to the Thai deputy premier, ASEAN is considered an important supply chain in the region and also a supply chain for Chinese investors, while Thailand, which is situated in the centre of ASEAN, is, therefore, significant for investment in the region. The Thai deputy premier made the remarks when holding talks with Shi Yigong, Vice Rector of Tsinghua University, and then jointly witnessed the signing of a Letter of Intent between Tsinghua University and Thailand's National Science and Technology Development Agency and National Innovation Agency. The Thai deputy prime minister later had lunch with Wang Jiwu, Board Chairman of TUS Holdings, in which some 20 start-up business operators joined. On the occasion, Wang proposed that Thailand restructure the domestic industrial sector in order to cross over from a middle income country and exchange trade and investment information with China. The TUS Holdings board chair acknowledged that Thailand is now ranked second in terms of the highest GDP, after Indonesia, in the ASEAN Community (AC) and TUS Holdings is confident in investing in the Thai economy after having conducted a study on investment in Thailand for about a year. (TNA)