Thailand

Thailand has expressed interest in joining the US-backed Trans-Pacific Partnership (TPP), the US’s ambitious plan to develop a free-trade zone across the Asia-Pacific region, though Bangkok has made clear it will want to assess any downside to its own economy before bringing down its trade barriers.

Opinions vary on how great an impact Thailand’s floods will have on the country’s banking sector. While optimists believe Thai lenders will be left relatively unscathed by the natural disaster, others are less positive, fearing an increase in non-performing loans and a general slowing down of the economy.

The telecoms industry in Thailand has a new regulator, one the sector hopes will move quickly to speed up the processes required for launching latest-generation platforms and develop a master plan to manage frequencies and licensing, though there are lingering concerns over whether the new regulator itself is properly constituted.

Thailand’s construction sector looks set for an increasingly busy time leading into next year, with the new government committed to ramping up infrastructure and housing projects, though the industry is still wary that rising materials costs and higher wages could weaken growth.

Thailand will have to move quickly to meet requirements for economic integration with ASEAN, set for 2015, with transport policy one of the key issues that will have to be addressed in the lead-up to the single market.

Despite criticism from economists, a new national rice policy committee, chaired by Thailand’s recently appointed Prime Minister, Yingluck Shinawatra, and approved by her new cabinet, is moving ahead on a promise to buy rice from farmers at well above global prices.