Summary of JTBF Mission to Thailand 2011 (2/7-2/11)

JTBF sent an annual mission to Thailand from February 7 (Mon) to 11 (Fri) with the following itinerary. Mission members was 13 in total. Members list is attached at the bottom.

Summary of JTBF Mission to Thailand 2011

reported by Teisuke Kitayama (Chairman of JTBF)

First of all, we would express our heartiest appreciation for courtesies and assistances which were extended to our mission by Thai Royal Embassy Tokyo, Japanese Embassy in Bangkok, Japanese Chamber of Commerce Bangkok　and all other concerned parties. We would also thank Mr. Arsa Sarasin, Chairman of Padaeng Industry Public Co. Ltd. for his kind arrangement of a welcome reception which provided us with a valuable opportunity of meeting with leading members of Thailand, business and official sectors.

When we sent a mission to Thailand a year ago, in every country, government and central bank started to discuss the way how to restore the financial actions which had been taken after the Lehman's fall. Within a year since then, we have observed an occurrence of a variety of new events such as financial chaos of Ireland and Greece, political chaos of North Africa and Middle East, as represented by Tunisia and Egypt, and so on.

In the mean time, in developing countries, of which high-rate growth is in contrast to decelerating growth of advanced countries, they have recently confronted with an inflation as it has been caused by currency appreciation and rising price of resources.

Thailand, despite a large scaled violent demonstrations of April last year, continues a high-rate of growth. Investment from Japan as well as the trade between two countries also continue to be high. Growth rate of 2011 will slow down but still expected to be around 4%.

In preparation for Thailand joining the ASEAN Economic Community (AEC) in 2015, Thai government and private sectors will have to construct political measures in order to enhance competitiveness within ASEAN and the globalised world as well. While Japan aims at continued growth by capturing the Asian demand, Thailand will continue to be a close partner of Japan.

In view of the background as above, it will be an honor and pleasure of JTBF if we could help drive a closer relationship between two countries.

Members list

• Mr. Teisuke KITAYAMA, Chairman, President of Mitsui Sumitomo Financial Group & former General Manager of Sakura, Bangkok
• Mr. Hitomi MORITA, Vice Chairman, former President of Fujikura Thailand
• Mr. Kazuo KIKKAWA, Vice Chairman, former President of Tomen Thailand
• Mr. Hiroshi MOTOMURA, Chief of Finance Committee, former General Manager of Bank of Tokyo Mitsubishi, Bangkok
• Mr. Taketoshi ARIKAWA, Vice Chairman, former President of Mitsubishi Thailand
• Mr. Kenichi YOSHIDA, Chief of Educational Support Committee, former President of Mitsui Toatsu Chemical
• Mr. Riichi ISHII, Chief of Food Development Committee, former President of Marubeni Thailand
• Mr. Yukio KATONO, Chief of Long Stay Committee, former President of Mitsubishi Electric Thailand
• Mr. Kazumasa MIZUTANI, Chief of Tourism Committee, former General Manager of JAL, Bangkok
• Mr. Shigeru KOGA, former President of Daiichi Kangyo Bank, Bangkok Branch
• Mr. Norio OKUMURA, Chief of Public Relations Committee, former President of IBM Storage Products Thailand
• Mr. Takashi FUSE, Representative of JTBF Bangkok Branch, former President of Nissho-Iwai Thailand
• Mr. Masakazu OKAMOTO, President of Y.M.P.(Thailand)Co.,Ltd.