Latest news with #FederationofThaiIndustries
The Sun
4 days ago
- Politics
- The Sun
M'sia monitoring tensions at Thai-Cambodia border
PUTRAJAYA: Malaysia is closely monitoring ongoing tensions along the Thai–Cambodian border, said Prime Minister Datuk Seri Anwar Ibrahim. He said gunfire has continued despite both countries' assurance to de-escalate tensions. 'Both the prime ministers of Thailand and Cambodia have made statements and contacted me personally to express appreciation,' he said during a media conference at the Putrajaya International Convention Centre yesterday. 'I have instructed Foreign Minister Datuk Seri Mohamad Hasan to reach out, and I will personally intervene if necessary. At the very least, stop the shooting first and continue talks.' He also expressed gratitude to the Federation of Thai Industries, which voiced concern over the impact of the border conflict on regional trade. The conflict centres on overlapping claims near the Preah Vihear and Ta Muen Thom temple areas. While the International Court of Justice ruled in Cambodia's favour in 2013, recent violence reportedly began after a Cambodian soldier was killed by a landmine in May, triggering artillery exchanges and evacuations. In a post on his Facebook page, Cambodian Prime Minister Hun Manet said he agreed to the ceasefire because Cambodia did not initiate the fighting. 'The key to resolving the current armed conflict between Thailand and Cambodia is the genuine willingness of the Thai side to accept a ceasefire, which is the first step towards finding further solutions between the two countries.' Manet said there is unclear reporting by various international media regarding the proposed ceasefire talks initiated by Anwar, the current Asean chair. He said he only agreed to the ceasefire after hearing from Anwar that Thailand's acting Prime Minister Phumtham Wechayachai had agreed to peace talks. 'However, it is regrettable that just over an hour later, the Thai side said they had reversed their position from agreeing to the ceasefire,' said Manet. On another matter, Anwar responded to remarks by PAS secretary-general Datuk Seri Takiyuddin Hassan questioning the handling of a special task force report on Tun Dr Mahathir Mohamad. 'He should follow the process, he hasn't even read the report,' said Anwar. The task force, chaired by a former chief justice, had recommended action over alleged betrayal of the nation. 'Despite the seriousness of the offence, given Tun's condition, we proposed not to pursue it further,' Anwar added.
Bangkok Post
4 days ago
- Business
- Bangkok Post
Private sector highlights business support measures
The Federation of Thai Industries (FTI) has presented recommendations to the commerce minister aimed at pushing the economy forward amid global trade uncertainties. During a meeting on Thursday, the Commerce Ministry's executive team led by Commerce Minister Jatuporn Buruspat and Deputy Commerce Minister Chantawit Tantasith discussed proposals presented by the FTI and chairman Kriengkrai Thiennukul. The meeting explored collaborative strategies between the government and the private sector to stimulate economic growth and address the rapidly changing trade situation, such as US tariffs, the European Union's carbon border adjustment mechanism, geopolitical tensions, rising production costs and the impacts of climate change. Mr Jatuporn said the ministry and the FTI are planning to issue a joint declaration on cooperation to systematically address challenges faced by businesses, with progress reviewed every 10 days. He said most of the FTI's proposals align with the ministry's urgent policies and will be implemented to help revive Thailand's economy. The focus is on grassroots economic development, leveraging soft power and expanding opportunities for all sectors, said Mr Jatuporn. Mr Kriengkrai outlined five economic and business support measures, including advocating for relief measures to support businesses affected by US tariffs, such as government assistance for legal and expert aid for small and medium-sized enterprises (SMEs) and reductions in related business costs such as certificate of origin fees. The private sector called on the government to accelerate tariff negotiations with the US, particularly regarding Section 232, which imposes high duties on key products such as steel, aluminium, vehicles and auto parts. The FTI recommended the government take proactive measures to mitigate trade diversion effects by initiating trade remedy actions rather than waiting for complaints from the private sector. All trade tools should be fully utilised, including anti-dumping, safeguards and countervailing duties, while monitoring unusual import surges under the Export and Import of Goods Act. The federation urged the government to explore new markets for Thai industries by expediting negotiations for new free trade agreements, such as the Thailand–Eurasian Economic Union agreement, supporting the SME proactive programme and trade missions, and increasing government procurement of made-in-Thailand products. Lastly, the FTI promoted the establishment of a long-term border trade ecosystem, calling for integrated infrastructure development and streamlined procedures to support comprehensive and sustainable border trade facilitation.
Bangkok Post
5 days ago
- Business
- Bangkok Post
Investors unfazed by Cambodia spat
Thai investors are continuing to operate businesses in Cambodia despite the country's escalating territorial dispute with Thailand, which has dealt a blow to border trade, says the Federation of Thai Industries (FTI). Many companies in Cambodia believe the clashes between the two countries will not be protracted and should have only a short-term impact. "Entrepreneurs in businesses such as garments, shoes, and food and beverages are monitoring the situation and have yet to consider withdrawing their investment from Cambodia," said Kriengkrai Thiennukul, chairman of the FTI. He was speaking after the federation's recent talk with Thai companies in Cambodia. Many of them have no plans to revise their business direction in the country because they are operating with a long-term outlook, he said. "The companies have only adjusted stock management as well as logistics and transport to suit the situation," said Mr Kriengkrai. However, companies with labour-intensive manufacturing are concerned about a labour issue because they hire both Thai and Cambodian workers, who may engage in disputes with one another based on anger over attacks between Thai and Cambodian armed forces. Thai investors hope the two governments solve their conflicts through negotiations to avoid an adverse economic impact, noted the FTI. Thailand closed all border checkpoints along the Cambodian border, causing a loss of 500 million baht per day for border trade, said Mr Kriengkrai. On July 24, seven people including two schoolchildren were killed in an attack on a 7-Eleven convenience store within a PTT petrol station compound in Si Sa Ket's Kantharalak district. The petrol station is reportedly located 20 kilometres from the Cambodian border. PTT Oil and Retail Business said after the incident it will comply with the safety measures set by the government to ensure its customers, employees and surrounding communities are safe. The company operates many businesses in Cambodia, including retail oil sales and coffee shops. None of the provinces that border Cambodia have large oil refineries or large oil and gas storage facilities. However, officials have been instructed to ensure energy supplies are not affected as an energy shortage would worsen the situation, said Energy Minister Pirapan Salirathavibhaga.
Yahoo
5 days ago
- Automotive
- Yahoo
Thai vehicle sales rise 5% in June
Thailand's new vehicle market expanded by 5% to 50,079 units in June 2025, just up from the depressed year-earlier sales of 47,662 units, according to the latest wholesale data released by the Federation of Thai Industries (FTI). June was the third consecutive month of growth for the market, after two years of sharp declines, which have been blamed mainly on tight lending criteria by banks and auto finance companies in response to sharp rises in non-performing loans (NPLs). This has left the country's highly indebted consumers and small businesses struggling to access financing. Vehicle sales last year fell by 26% to a 15-year low of 572,675 units. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The market last month continued to be driven by strong sales of battery electric vehicles (BEVs), mainly by Chinese automakers, as they continued to ramp up local production to compensate for their earlier imports under the Thai government's EV3.0 investment incentive programme. Sales of domestic pickup trucks continued to fall however. In the first half of 2025, the Thai vehicle market declined by just under 2% to 302,694 units from 308,027 units in the same period last year. Vehicle production in the country rose by 12% to 130,223 units in June, but was still down by almost 5% to 724,715 units in the first half of the year. Production for export fell by 8% to 475,013 units in the six-month period, reflecting sluggish overseas demand and rising global competition from Chinese automakers. The Thai government last month indicated it was considering introducing scrappage incentives to encourage owners to trade in their old pickup trucks for new ones. Earlier this year the government launched a THB 5 billion loan-guarantee programme, which runs until the end of the year, to support pickup truck purchases by small and medium-sized businesses. So far, this has not had a significant impact on pickup truck sales. The FTI recently revised down its full-year vehicle output forecast to 1.4 million units, from the 1.5 million forecast earlier in the year. "Thai vehicle sales rise 5% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Nikkei Asia
16-07-2025
- Business
- Nikkei Asia
Thai business sentiment hits 9-month low on border closure, tariffs
A container is loaded onto a cargo ship docked at the port of Bangkok: Business sentiment in Thailand fell for the fourth straight month in June, partly due to worries over trade. © Reuters YUICHI NITTA BANGKOK -- Business sentiment in Thailand dropped to a nine-month low in June, as the country's trade was hampered by the closure of the Cambodian border, according to data released Wednesday by a major industry group. The Federation of Thai Industries (FTI)'s monthly Industrial Confidence Index, based on a survey of 1,342 entrepreneurs in the group, fell to 87.7 last month from 88.1 in May, hitting its lowest point since September 2024.
