Business operators call for calm

BANGKOK, November 12 (TNA) - The Thai Chamber of Commerce (TCC) has cautioned that continual street protests against the Thai government-sponsored amnesty bill since last month are likely to have some negative impacts on the national economy, urging all parties to, thus, remain calm. TCC Chairman Issara Vongkusolkit read the TCC statement on Tuesday, saying that the prolonged protests would hurt the Thai economy, especially during the ongoing high tourism season, which could draw more foreign currencies to the Kingdom and help drive the national economy. Issara stressed that both TCC and the Board of Trade of Thailand are against corruption in the country, but nationwide campaigns against the controversial amnesty bill, alleged to pardon corrupt politicians, have already achieved their goal. Issara warned that confrontation by rival parties, which could lead to violence and eventually hurt the Thai economy, should be ended and the rival parties should, instead, prioritize national interest in order to soonest restore happiness and unity in Thailand. In response to a call by a former Democrat deputy prime minister, Suthep Thaugsuban, for local private companies and shop owners to withhold their mid-year tax payments and employees to join a three-day strike and join the civil disobedience, starting from November 13, 2013, Issara announced that TCC will not perform illegal activities. Meanwhile, Thanawat Polvichai, Director of Bangkok-based University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting, told reporters that his centre has estimated damages inflicted on the national economy should be around 10-50 billion baht if the street protests remained peaceful. Thanawat projected Thailand’s gross domestic product (GDP) should, thus, decline by 0.2-0.3 per cent and should grow around 3.3-3.5 per cent on average this year. According to the senior economist, Thailand is expected to, however, lose approximately 200,000 tourists monthly with maximum earnings of 50 billion baht, while the country's GDP growth should retreat to around 3-3.2 per cent this year, if the street protests were dragged on until the end of this year and turned violence. (TNA)