TNSC reckons that in the initial phase of European companies moving out of China, some Thai exporters who supply raw materials like rubber and plastic pellets will be affected.
“However, once the companies settle in other countries like India, Vietnam and Indonesia, the supply chain will be re-established and Thailand will benefit greatly from FTAs with European countries,” he said.
Furthermore, he said, Thailand should also use this as an opportunity to replace the EU as a supplier of raw materials to China, especially in the automotive, petrochemical, and electronic industries.
Last year, trade between Thailand and China rose 1.53% year-on-year to 3.69 trillion baht, accounting for nearly 18% of Thailand’s overall trade and making China the Kingdom’s top trading partner.
Amid the global economic slowdown, the International Monetary…
