Japan-Thailand Business Forum

Japan Thailand Business Forum is an association which consists of persons who have once worked in Thailand as executives of various Japanese companies as well as government offices located in Thailand.

It was organized in August 2002 for a purpose of exchanging frank opinions with Thai authorities in regard to tourism, economy, investment and other various subjects.

Amphawa, Samutsongkhram

Thailand Review Jan. 2012 (extracted)

Economy

In Bank of Thailand's monthly financial and economic report (issued December 30th for November), exports were worth US$15.3 billion in November (down 13.1%, compared to the same month in the previous year, down US$1.7 billion from the previous period) and imports US$15.1 billion (down 1.9% similarly, down US$900 million similarly). In terms of exports, industrial and agricultural production in particular suffered the effects of flood damage, and chemical products and processed food products felt the effects of the global economic recession. The balance of trade was a US$200 million surplus. The foreign currency reserve at the end of November stood at US$178.3 billion (down US$3.7 billion from the previous month).

On December 28th, the Thai Ministry of Finance�fs Fiscal Policy Office announced that it expected this year�fs economic growth rate to be no more than 1.1% up on the previous year. The spreading flood damage had caused the forecast to be revised down to 1.7%, but the further spread of the impact on the industrial and agricultural sectors and on exports prompted another downward revision. In 2012, it is expected that the economic situation will return to normal and that the government�fs flood damage recovery budget will boost the economic growth rate, which will likely recover to 5.0%.

The Thai Ministry of Commerce's Bureau of Trade and Economic Indices announced on January 4th that the consumer price index (CPI) increase rate for 2011 was up 3.81%, compared to the previous year (food and beverages up 7.96%, non-food products up 1.32%), and for December was 3.53% compared to the same period in the previous year (food and beverages up 9.09%, nonfood products up 0.17%), marking 27 months of positive growth. The core CPI for the year (excluding perishables and energy) was 2.362% up on the previous year, and for December 2.66%, compared to the same period in the previous year, 26 months of positive growth.

Politics

On December 19th, Prime Minister Yingluck visited Burma in order to attend the 4th Greater Mekong Subregion (GMS) leaders�f summit. On 20th, Prime Minister Yingluck met with Aung San Suu Kyi, the leader of the National League for Democracy, in Rangoon. Prime Minister Yingluck was the first foreign head of state to meet with Ms. Aung San Suu Kyi.

On December 27th, the Thai Cabinet approved the establishment of a fund of Bht350 billion for the development of infrastructure as part of long term antiflood measures, and the establishment of a Bht50 billion insurance fund to complement the natural disaster insurance system. Additionally, the Cabinet approved a master plan for water management in six areas, including forest expansion, the construction of dams and reservoirs, urban planning, etc.