The Federation of Thai Industries (FTI) is calling on the Bank of Thailand to launch new measures to rein in the baht's rapid gains after the currency hit a more than six-year high.
Bangkok(VNA) - The Federation of Thai Industries (FTI) iscalling on the Bank of Thailand to launch new measures to rein in the baht'srapid gains after the currency hit a more than six-year high.
FTIChairman Supant Mongkolsuthree said that the Thai government should take careof the baht's fluctuation, as it poses a strong impact on the export sector.
Hesaid the global market is suffering from instability caused by the US-Chinatrade war.
The USFederal Reserve (Fed) left its key interest rate unchanged and was prepared tostart cutting rates if needed to protect the US economy from trade conflictsand other threats, he noted.
TheFTI expects the Monetary Policy Committee (MPC) of the central bank to bringthe baht's appreciation up for consideration at today's meeting.
Thecountry's policy rate is currently 1.75 percent.
Companiesin the agriculture sector rely heavily on exports and using local materials, sothey feel pressured by the baht's strength, he said.
Meanwhile,Thai farmers are facing a host of problems such as the low prices of farmproducts, higher competition and a sluggish global market.
Thebaht surged to its highest level in more than six years last week to 30.86 bahtagainst one USD.
Thebaht has seen some of the highest gains in Asia, Supant said, holding that thepotential rate for exporters to benefit is closer to 35-36 baht against one USD.
Thailand'sexport sector accounts for 65-70% of GDP. In May, the country suffered a year-on-yeardecline of 5.8 percent in export revenue to 648 billion baht (21 billion USD),leading to a decrease of 2.7 percent in the first five months of 2019.-VNA
Marking Thailand’s ASEAN Chairmanship, the Government Public Relations Department has joined hands with the Ministry of Foreign Affairs and the Royal Photographic Society of Thailand to create the “Pride of ASEAN” stamp collection, depicting the cultures and lifestyles of all 10 ASEAN member states across 20 stamps.
Chiang Rai province of Thailand has organised the THAM LUANG CAVE DAY Bike & Run 2019 to mark the first anniversary of the Tham Luang rescue operation and to raise a funds for the Tham Luang Cave-Khun Nam Nang Non Development Fund.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Illustrative image (Source: Internet) 
