ASEAN KEY DESTINATIONS
Human trafficking downgrade impacts Thailand negatively: BoT
The United States decision to downgrade Thailand in its human trafficking rankings has a negative impact on the kingdom, according to Bank of Thailand (BoT) governor Prasarn Trairatvorakul.
Mr Prasarn said the US moved Thailand to its worst assessment level, that of the Tier 3 group of countries being watched for human trafficking, has tarnished the country's national image and reputation and could slow national economic recovery to some extent.
However, he said, the government was explaining the issue to the US and the problem happens only in some industries, not all.
Mr Prasarn also said that the Thai Chamber of Commerce was trying to explain the matter to trading partners, especially the US, by informing them that Thailand had tried to tackle human trafficking and if the explanation was successful, there would not be an impact on businesses in the private sector.
The BoT governor commented that the Thai authorities should seriously resolve human trafficking in some industries which had not tackled the problem consistently.
When the country faced an economic slowdown, the problem therefore significantly affected the growth of the national economy, Mr Prasarn said.
It is still too early to assess impacts on Thai exports this year, he reflected.
Mr Prasarn said concerned parties should wait to see if US President Barack Obama would agree with the downgrade of Thailand in the human trafficking watch list.
However, Mr Prasarn admitted that Thai exports would grow by less than 4 per cent and that the national economy would expand by 1.5 per cent this year.
Besides, Mr Prasarn said concerned parties must monitor a meeting of foreign ministers of 28 European countries who would consider relations with Thailand following the May 22 coup of the National Council for Peace and Order (NCPO).
Thai political situations had not returned to a state that the international community accepted, he said.
Other countries would better understand Thailand when the NCPO finishes implementing its roadmap to restore normality to the country, he said.
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