Travel  |  Business World  |  Women's World  |  Entertainment

Change Your Life!

Thai PM hopes new U.S. president will not hurt trade

News
Sports
Chat
Travel
Dhaka Today
Yellow Pages
Higher Education
Ask a Doctor
Weather
Currency Rate
Horoscope
E-Cards
B2K Poll
Comment on the Site
B2K Club

November 9, 2000 

BANGKOK (AP) - Prime Minister Chuan Leekpai said Wednesday he hopes a new U.S. president will not enforce policies that will harm trade between the United States and Thailand.

"I hope the (new) president of the United States would maintain the trade relations ... so that we can sell our goods to the U.S. and can create more jobs for our people," Chuan told reporters.

"We are good friends of America and America is our biggest market. I am only concerned about the trade issue," he said.

Earlier, the spokesman of Thailand's central bank, Bandid Nijathaworn, said if George Bush became president, his policies may adversely affect the Thai economy and the national currency.

Republican Bush and Vice President Al Gore are in a neck-and-neck race after Tuesday's elections. The final result is expected to known early Thursday.

Bandid, the Bank of Thailand spokesman, told reporters that Bush's policy of stimulating economic growth may force another round of interest rate hike by the U.S. Federal Reserve to prevent the economy's overheating. This in turn could adversely affect the Thai economy, he said.

"If the Fed raises U.S. interest rates, our debt burden will be increased, affecting the current account balance," Bandid said.

He said if the interest rate differential between the United States and Thailand widened further, there could be additional pressure on capital flows and the local currency.

However, he reiterated that the central bank will maintain its low interest rate policy to encourage the country's economic recovery.

Finance Minister Tarrin Nimmanahaeminda said the result of the U.S. presidential vote will not have any impact on the U.S.-Thai relations.

He noted that Bush's policy, focusing on the support to underdeveloped countries, seems to gain more support than Democrat candidate Al Gore's.