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US congratulates Thai citizens who participated in the election

Boris Sullivan

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The United States said on Tuesday (Mar 26) that it saw “positive signs” of a return to democracy in Thailand but urged a transparent probe of allegedly widespread irregularities.

The United States said it did not support any individual party but looked forward to working with whichever government emerges following Sunday’s election, the first since a 2014 coup.

We congratulate the Thai citizens who participated in the long-awaited election. The U.S. looks forward to working w/ #Thailand’s newly elected government


Robert Palladino

“The voting along with, we note, robust media coverage of the process and open debate of its merits, those are positive signs for a return to a democratic government that reflects the will of the people,” State Department spokesman Robert Palladino told reporters.


Defying poor pre-election polling, Palang Pracharat, the Thai army’s proxy party, performed well in this past weekend’s elections, the country’s first since 2011.

Palang Pracharat apparently captured the second-most constituency seats in the lower house of parliament. Along with allies in the senate, whose members were chosen by the armed forces, Palang Pracharat and coalition parties likely will be able to lead the country.

Thailand is the oldest US ally in Asia but Washington suspended some security assistance following the 2014 coup as required under a US law that prohibits support to regimes that overthrow democracies.
Read more at https://www.channelnewsasia.com/news/asia/us-sees–positive-signs–in-thai-election-11383312

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Trade

Thailand among leading beneficiaries of the U.S.-China trade war

The trade battle has “increased the importance of Thailand” as a base for manufacturing Japanese goods such as auto parts and electronics to be exported to America

Boris Sullivan

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Thailand has been a “leading beneficiary” from the ongoing trade fight between Washington and Beijing, according to Standard Chartered’s Clive McDonnell.

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Banking

Thailand’s loss of trade privileges with US is credit negative

The development is credit negative because Thailand’s export-oriented economy is in a difficult external environment given that a broad-based export slowdown and strong Thai baht are weakening the competitiveness of goods exporters and the country’s tourism industry.

Bahar Karaman

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Thailand’s loss of trade privileges with US is credit negative amid challenging external environment, according to an article from Moody’s Credit Outlook, 4 November 2019 issue.

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Asean

Thailand to renegotiate GSP with US delegation at ASEAN Summit

The United States recently announced the cancellation of Generalized System of Preferences benefits, which used to allow 573 items exported from Thailand to the US to be exempt of import duties.

National News Bureau of Thailand

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Apart from resolutions to be made by ASEAN leaders at the ASEAN Summit in November, the Thai government will seek this opportunity to hold a talk with the U.S. regarding the decision to revoke the Generalized System of Preferences (GSP) treatment previously given to 573 Thai products.

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