Thailand: NESDC: Thai economy hit by China’s zero-Covid policy, import restrictions

• China’s zero-Covid policy, agricultural import restrictions, and shift away from global dependence will hit Thailand’s economy, warned the National Economic and Social Development Council (NESDC) on 8 May 22.
• The NESDC, which is Thailand’s national economic planning agency, said it was monitoring China closely after the country imposed Covid-19 lockdown measures on Shanghai and other cities.
• “China’s economy expanded by only 4.8% in 1Q22, lower than forecasts of more than 5%,” said the NESDC.
• The NESDC said that lockdowns of large Chinese cities will disrupt Thailand’s industrial supply chain for electronics and electric appliances.
• Meanwhile, China’s tighter inspections of agricultural imports, especially via land, has made the NESDC to urge a tightening of Thai export standards to meet China’s demands. China temporarily suspended imports of Thai durians in Apr 22 after discovering traces of Covid-19 among a rail shipment at the Mohan border checkpoint. The price of Thai durians dropped as a result.

External Link : https://www.nationthailand.com/business/40015343