About 1,100 items of industrial products are likely to be affected by impacts from trade war between China and the United States, said Mr Kriangkrai Thiennukul, vice president of the Federation of Thai Industries (FDI), on Monday.
The FDI is currently making an assessment about potential impacts from the looming China-US trade war to Thai industries, especially 45 industrial groups involving 11,000 industrial operators whose products are related to exports to the US and Chinese markets.
Although the trade war is between two major economies, Mr Kriangkrai said the FDI is concerned that the fallout from the trade war may affect Thailand. As a small country, Thailand exports account for 70 percent of revenue, hence, the FDI has to closely monitor the developments.
In the initial assessment, he said 1,102 items of products such as high-tech and technological products which are manufactured in Thailand for exports to China might be affected.
On the positive side, he said that the US could turn to Thailand for products that it used to import from China, adding that he expected an assessment report to be ready in mid-July.
Commenting on Prime Minister Prayut Chan-o-cha’s visits to Britain and France to promote foreign investments in Thailand, particularly in the EEC, Mr Kriangkrai said the visits would be a boon to Thailand, the EEC in particular as both France and Britain are well-known for their advanced technologies.