Bangkok: Tensions in the Middle East are impacting the global economy, affecting Thailand as well. Following the Israeli-US attacks on Iran, these tensions are anticipated to influence the global economy from the beginning of the year, bringing uncertainty regarding their duration.
According to Thai News Agency, Associate Professor Dr. Thanawat Pholvichai, President of the University of the Thai Chamber of Commerce, discussed the potential impacts on Thailand. Dr. Thanawat emphasized the importance of understanding the implications for Thai exporters and suggested that they should prepare for possible disruptions in trade and economic activities resulting from the situation in the Middle East. The ongoing tensions could affect trade routes and lead to fluctuations in oil prices, which would, in turn, influence costs and pricing strategies for Thai businesses engaged in international trade.
Dr. Thanawat also indicated that Thai exporters might need to explore alternative markets and diversify their portfolios to mitigate risks associated with the uncertainties in the Middle East. The situation underscores the interconnected nature of global economies and highlights the necessity for Thai businesses to stay informed and adaptable in response to shifting geopolitical landscapes.