THAILAND TRAVEL NEWS: Thailand Prime Minister Abhisit Vejjajiva is confident that the Thai economy will recover from its current contraction and become positive late this year or early next year.

He said the ongoing global economic crisis had affected trade, finance and investment activities, but Thailand has an advantage over other countries in areas such as agriculture, industry, textiles and precious stones.

Mr Abhisit said the shrinkage in Thailand’s exports was less than that of its neighbors because Thailand has strong fundamentals and has managed to adapt to the changing economic situation.

Although trade with key export destinations remains sluggish, Mr Abhisit said he believed Thailand has the ability to find new markets. He said all state agencies concerned are addressing the difficulties that manufacturers, exporters and tour operators are experiencing.

Under the circumstances, entrepreneurs must adjust their role in preparation for increased fluctuations in the global economy, he said.

While acknowledging that the global economic woes had impacted Thailand’s trade with superpower economies, he said he is confident the economy will recover and turn from the current negative territory to return to the positive zone late this year or next year.

By John Le Fevre

Thailand Travel News for May 30, 2009