Debated in Parliament on 21 Feb 2014.
Ms Mary Liew asked the Minister for Foreign Affairs (a) what is the Ministry's assessment of the civil unrest in Thailand; (b) what are the implications for Singapore of the outcome of the Thai elections; and (c) what is the economic impact of prolonged unrest for businesses in Singapore and ASEAN.
Thailand held elections on 2 February 2014. The announcement of the final results will take some time, since voting has not been completed. In the meantime, demonstrations continue in Bangkok and several other provinces, with occasional outbreaks of violence. Bangkok and its surrounding districts remain under a state of emergency imposed by the Thai government last month.
Singapore naturally watches these developments with concern. Thailand is an important country and the second largest economy in ASEAN. It contributes actively to the building of a stable and prosperous ASEAN Community. Thus far, we have not observed significant economic disruptions resulting from the unrest in Thailand. Supply chains remain mostly in place and Singaporean companies in Thailand have not encountered major disruptions to their operations, although they reported a slight drop in overall business volumes. However, businesses also take political and security considerations into account. Prolonged unrest could affect confidence and the business environment, which, in turn, could be a setback for Thailand and even ASEAN as a whole.
It is, therefore, our hope that all quarters in Thailand will be able to find a political solution and work towards the restoration of peace and order in the country so that the situation will return to normal as soon as possible.
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