Thailand creates confidence among foreigners

BANGKOK, June 25 (TNA) - It is now time for Thailand to reorganise national systems, aimed at paving the way for a newly-elected government to be able to create confidence, especially among foreigners. Raising the proposal and expressing his support to the Thai army-led National Council for Peace and Order (NCPO), although the United States and the European Union (EU) have opposed a coup staged by the NCPO on May 22, 2014, ex-commerce minister Narongchai Akarasanee told journalists on Wednesday he is not surprised that both the Unites States and the EU have kept on pressuring Thailand after the coup. Narongchai explained that several superpower countries believe Thailand has a high potential for trading and investment and want to see transparency in the country, but the Kingdom was unable to fully create confidence among foreign business operators over the past decade due to domestic political problems. Narongchai foresaw that Thai politics, economic and social cruxes should be improved from now on, after the NCPO has stepped in, while he, himself, would take an opportunity to explain on the domestic situation during a seminar of the Australian-Thai Chamber of Commerce, set to be held later in the day. Meanwhile, Professor Dr. Thirapat Serirangsan, a former minister attached to the prime Minister’s office, urged the NCPO to carefully consider the EU's opposition and experts should be invited to help solve the issue. The US State Department has also reportedly informed the Congress that Washington has already cut 4.7 million US dollars in security aid to Thailand after the May 22 coup, equivalent to half of total US security assistance to Bangkok this year. (TNA)