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BANGKOK – Thai investors are concerned that the sanctions and a boycott of Myanmar following Monday’s military coup will affect their business in the country, the Thai-Myanmar Business Council said.
The council, so far, has said it cannot shed light on exactly what effect the coup will have on Thai companies in Myanmar, as the government has yet to release a statement on foreign investment and companies.
However, he said that Thai operators should not be directly affected if Myanmar is boycotted, as their business is mainly aimed at domestic consumers. However, investors may lose money due to the expected slowdown in Myanmar’s economy, he said.
He also said that now that the government led by the National League for Democracy has been overthrown, he is not sure whether the new government will honor the contracts that Thai investors had signed with the previous administration.
However, the council believes that bilateral trade will only be slightly affected.
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