Some had questioned her lack of credentials as an economist. But, as she plunged into the Greece crisis to prevent a meltdown of the eurozone, doubts were quickly swept aside.

On Friday the French lawyer and former finance minister’s achievements leading the crisis lender were confirmed: facing no challengers, she was named to a second five-year term as IMF managing director.

Lagarde, 60, has rebuffed all doubters after having started out as a lawyer who was told that, as a woman, she had little future in the field.

She skipped a French establishment career and instead joined the prestigious US legal consulting giant Baker & McKenzie.

By 1999 she had pushed her way up to become chairwoman of the company’s global executive committee, a first for the firm, and then of its global strategy committee in 2004.

She then embraced politics, joining the government of president Jacques Chirac as trade minister in June 2005.

Two years later, she became finance minister under Chirac’s successor Nicolas Sarkozy, the first woman ever named to that post.

She appeared headed for greater heights in French politics when she was suddenly drafted to replace IMF managing director Dominique Strauss-Kahn, another French politician who was forced to resign from the Fund under a cloud of sex scandal in 2011.

With Europe plunging into crisis, the IMF move gave her a powerful seat inside the closed circle of the world’s leaders, but also responsibility for handling Greece’s debt crisis, and those of Ireland, Portugal and Cyprus.

– Straight-talker –

===================

A tough negotiator and determined consensus-builder, Lagarde didn’t hesitate to cross swords with the very officials she worked closely with in her previous job, even criticizing her successor as finance minister, Pierre Moscovici, of being asleep during one crisis meeting.

“There are many instances of Ms Lagarde’s courageous truth-telling,” said economist Desmond Lachman, a former IMF official.

At the same time, she skillfully managed the shifting currents of power in the Fund, where emerging giants like China are challenging the dominance of the old powers like the United States, Europe and Japan.

Lagarde recently scored two major successes at the IMF: the addition of the Chinese yuan to the Fund’s basket of reserve currencies and the passage by the US Congress of long-stalled IMF reforms, for which she had joked she would belly-dance for Congress if needed to get US ratification.

The silver-haired mother of two sons, whose chic wardrobe placed her on Vanity Fair’s “best-dressed” personalities list, has fashioned herself as an icon to talented women fighting male dominance in large organizations like the IMF, in the commercial world, and in government.

Women face, she says, an “insidious conspiracy” that keeps them from equal representation in the ranks of power and leadership.

For her, it is not just an issue of equality, but of economics and development.

“The global economy is not making use of great potential that is available. And that needs to change, not just for women’s sake, but for economies’ sake,” she said in a Tokyo forum.

– AFP

Duangkamol Chansuriyawong, president of TEATA, said it planned to organise activities and familiarisation trips in a bid to boost ecotourism and adventure tourism, as these niche segments were becoming more popular among Thais and foreign tourists.

She said ecotourism, community-based tourism and the adventure sector generated total income of up to Bt300 billion a year.

“The number of solo tourists is increasing in Asia, including Thailand, following a global trend that happened earlier in the US and Europe. Today tourists want to explore local communities and experience solo adventures here,” she said.

Many solo tourists have travelled to 30-70 countries and mostly prefer to visit small towns and remote attractions.

This year, TEATA and its 60 members aim to raise awareness and encourage young travellers to visit communities. The association will work with the Dutch Embassy and a jazz band, Biggles Big Bang, to organise a music workshop for children on March 3 in Bangkok and in seven other provinces nationwide later next month. Children will be taught about music as it is part of a new trend in travel.

In June, the association and operators involved in ecotourism and adventure travel will join “Thailand Travel Mart Plus” in Chiang Mai province. The travel trade fair is expected to help buyers and sellers push ecotourism in the Northern region.

Duangkamol said TEATA and the Tourism Authority of Thailand would host fam-trips for international media and travel agents to experience adventure products. Low-carbon destinations will be part of the campaigns.

This year, TEATA plans to work with the Asian Ecotourism Network to promote adventure attractions. Meanwhile, it will work with the European Centre for Ecological and Agricultural Tourism to push awareness in Europe.

A group of bloggers are teaming up with TEATA for the first time to help promote niche tourism.

The committee’s meeting, which will be chaired by Prime Minister Prayut Chan-o-cha, is scheduled for early March. Members of 12 subcommittees under the Pracha Rath Synergy Committee will also attend the meeting.

Isara, who is also member of a subcommittee for modern agricultural development under the Pracha Rath Synergy Committee, said its plans were aimed at the short, medium and long terms.

The short-term plan, which will be implemented within six months, includes promotion of farming as a profession with higher income with higher standards of agricultural products, as well as joint cooperation between the private and public sectors for big lots of Pracha Rath farming.

Big farming lots will improve the value chain by matching private businesses with farmers in an area, possibly in the form of social enterprise. This programme aims at connecting producers with exporters. Mitr Phol Group, Charoen Pokphand Group, Thai Union Group and others will likely join this programme to develop value chains systematically.

Anther short-term programme is a prototype development of agricultural cooperatives to build up smart managers who have knowledge and capability in business development. The Ministry of Agriculture and Cooperatives has agreed in principle for this programme with support from private sector players like Mitr Phol, CP Group and Thai Union.

Isara said medium- and long-term plans had been finalised and would be proposed during the meeting for approval. He said all work plans and projects were aimed at developing and enhancing the capabilities of the agricultural sector and its operators from upstream to downstream.

He said the subcommittee for modern agricultural development had set up five working groups for crops, small terrestrial animals, big terrestrial animals, aquatic animals and part-time self-employment.

These five working groups will aim to narrow the gap between the agricultural and non-agricultural sectors, develop “smart” farmers and agricultural small and medium sized enterprises, and enhance the competitiveness of the agricultural sector.

“The public and private sectors [will] work together to develop the whole chain of agricultural sector as a way to improve quality, upgrade product standards and lower costs for farmers. Efficiency will be boosted for the whole system with value added to agricultural products to compete locally and overseas,” Isara said.

However, more access to communities is needed with more farm income, he said.

“Aviation is critical to Thailand’s economic success. It is the backbone of the tourism industry and provides critical global business links. We estimate that today aviation and related activities account for some 2 million Thai jobs and generate US$29 billion in GDP. And by 2035 we could see that grow to 3.8 million jobs and $53 billion in GDP. If realised, that potential 83 per cent growth would have a broad and positive impact across the Thai economy. It is in jeopardy, however, unless key issues of safety, capacity and costs are addressed urgently,” said Tony Tyler, IATA’s director general and CEO.

In a statement, he said that safety oversight concerns raised by both the International Civil Aviation Organisation (ICAO) and the US Federal Aviation Administration (FAA) must be addressed.

The US FAA ranks Thailand in Category 2 of its International Aviation Safety Assessment programme.

“These assessments look at what the government is doing – not the airlines. Thai Airways and Bangkok Airways are IATA members and, along with Thai Lion Air and Orient Thai Airlines are on the registry of the IATA Operational Safety Audit (IOSA). This demonstrates that they are operating to the highest global standards for operational safety. ICAO and the US FAA have pointed out safety oversight concerns and divergence from global standards at the government level. Safety is aviation’s top priority. The Government of Thailand must address these concerns in support of a vibrant aviation sector that is the backbone of travel and tourism,” said Tyler.

IATA also asks Thailand to mandate IOSA as a requirement for all Thai-registered airlines. “This would not absolve the government of its responsibility to do better in aligning its oversight programs to global standards. But it would send a strong signal that Thailand is serious about its commitment to world-class safety.”

On capacity, with over 50 million annual passengers, Bangkok’s Suvarnabhumi Airport ranks amongst the top air hubs in the world. But it faces several issues which must be resolved.

Safety concerns about “soft spots” on the tarmac, taxiways and apron area must be permanently resolved. Aircraft frequently get “stuck” in the soft surfaces that are the result of sub-standard materials. The extra power and towing needed to maneuver through these surfaces is a safety risk to ground personnel, ground vehicles and aircraft. On top of that, frequent surface repairs create congestion. “The constant resurfacing of the tarmac, taxiways and apron area with asphalt is an unacceptable patchwork solution. We literally need a “concrete” solution,” said Tyler.

The airport also faces a capacity crunch. Suvarnabhumi is handling over 52 million passengers. This already exceeds the terminal design capacity of 45 million while demand is growing by 10 per cent annually. Fast tracking the Phase Two terminal expansion would provide much needed terminal capacity. IATA also calls for third runway plans at Subarnabhumi to move forward. “A permanent fix for the frequent tarmac, taxiway and apron closures for resurfacing will address near-term runway capacity concerns. But a runway takes a long-time to build, so it is important that that plans for the third runway continue to move forward,” said Tyler.

IATA called for broad stakeholder consultation in the development of a long-term masterplan to guide the development of Thailand’s airport infrastructure.

On cost, Thailand ranks 35th in the World Economic Forum’s Travel and Tourism Competitiveness Index, behind many of its tourism competitors – including Japan, Singapore, Hong Kong, the Mainland of China, Malaysia and South Korea. He noted that low cost carriers account for 54 per cent of the short-haul market in Southeast Asia and the Gulf hubs are strong and growing competitors for long-haul traffic.

“In the face of intense competition, Thailand’s aviation competitiveness is being chipped away with various new or increased taxes and charges. It is in Thailand’s long-term self-interest to review and abandon proposals that increase the cost of transportation. That includes taxes or charges,” said Tyler.

Last year, total premium income of the life-insurance industry grew by 6.7 per cent, lower than the target of 7 per cent because of lower purchasing power. However, the TLAA hopes that the expected GDP growth of 3.7 per cent this year will help boost premium income by 9 per cent, said association president Sara Lamsam.

Based on the growth target of 9 per cent, total life-insurance premiums will reach Bt585.7 billion.

In past years, the industry enjoyed double-digit growth. Sara noted that purchasing power was an indicator of whether the industry would return to that level of growth, and the TLAA would closely monitor household debt and living costs, which can affect purchasing power. This year, premium income from first-year policies is targeted at Bt130 billion, representing growth of 9 per cent year on the year. Income from single-premium policies is targeted at Bt53 billion, representing growth of 3 per cent, and new-business premium income is projected at Bt183 billion, growth of 7 per cent. Renewal premiums are targeted at Bt402 billion, growth of 10 per cent.

The TLAA targets a persistency rate of 83 per cent.

Last year, total premium income grew by 6.7 per cent to Bt537.51 billion. Apart from the economic slowdown, several life-insurance companies also toned down promoting single-premium policies, which affected total income and the persistency rate, Sara said.

“We will re-evaluate the factors of economic slowdown and high household debt in the middle of this year as to whether they will influence life-insurance [sales] and whether this industry will have a chance to grow by double digits,” he said.

The association believes that a stronger economy driven by government spending and stimulus packages will spur sales of life insurance. Moreover, amended regulations in line with the AseanEconomic Community have encouraged Thai insurance firms to invest outside the country, especially in Cambodia, Laos, Myanmar and Vietnam. The next destinations for Thai life-insurance investment are Indonesia and the Philippines.

The ageing of society and the tax deductions from buying life insurance are still key factors for the long-term growth of the industry, Sara said.

Tony Tyler, general director of the International Air Transport Association, said at the Singapore Airshow that even though global oil prices had dropped and the US dollar had appreciated by about 20 per cent over the last 18 months, the positive effects on the airline sector were limited.

He said the Asia-Pacific region now accounted for 40 per cent of the world’s cargo market but the business this year would be lower than its peak a few years ago.

Meanwhile, low-cost airlines, which controlled 54 per cent of the market – the highest in the world – would face more intense competition.

Tyler will be in Bangkok today to say more about the outlook for aviation.

Khaw Boon Wan, Singapore’s minister of transport, warned that the gloomy economic outlook could portend a slowdown of air travel in the region. However, he believes that the sector will bounce back eventually, as the number of passengers in Asean has tripled from a decade ago while the number of routes has increased by 40 per cent to more than 1,500.

In the meantime, Singapore has managed to attract more investment for high aviation technology, as Pratt & Whitney has just opened a factory in Seletar Aerospace Park. The new facility will produce PurePower Geared Turbofan engines for Airbus, Bombardier and other aircraft makers. The island republic is also an attractive destination for airlines from China, as West Air recently introduced a new Chongqing-Singapore route, utilising the Airbus A320-200.

According to air-show reports, Chinese airlines are expected to report large profits for 2015 thanks to lower oil prices and higher market demand.

Spring Airlines said its income would increase by 50-60 per cent compared with 2014.

This budget airline has enjoyed the drop in oil prices as well as healthy demand in international markets.

Air China predicted its income would jump by 60-80 per cent from 2014 for the same reasons. China Southern Airlines is on the same track with high hopes a 130-per-cent jump in revenue from 2014.

Myanmar, which began opening up to the world in 2012 after decades of military rule, is gaining more international tourists. A total of 22 foreign airlines carried about 3.2 million passengers into the country last year. That number is expected to grow further this year and throughout the next decade.

Thai Smile Airways plans to begin operating flights from Suvarnabhumi Airport to Mandalay in October and to Yangon in December.

Next month, Emirates plans to launch its first direct service to New Zealand, which will be claimed as the world’s longest flight. The Dubai-Auckland flight will utilise the Boeing 777-200ER. Currently, Qantas’ Sydney-Dallas route is the longest flight, using the Airbus A380. The new Emirates service of is expected to take 15 hours and 55 minutes eastbound from Dubai and 17 hours 15 minutes on the return flight from Auckland.

Korean Air is scheduled to receive 16 passenger aircraft and five freighters this year.

The suggestions were made after the FTI’s Thai Industries Sentiment Index (TISI) for January fell to 86.3 from 87.5 the previous month, marking the first decline in five months.

The latest survey of FTI members found they were concerned about the country’s slow economic growth in the face of further drought, and a slowdown in global economic growth, especially in China, which would negatively affect the Kingdom’s exports this year, FTI chairman Suphant Mongkolsuthree said at a press conference.

The survey was conducted among 1,202 companies from 44 industry groups – 31.3 per cent of them being small firms, 38.4 per cent of them mid-sized, and 30.3 per cent large companies.

Suphant said the TISI in January had dropped because the global economy was showing signs of only slight growth, or possibly even a contraction, this year.

Particular concern was expressed about China’s slowdown, he said.

However, the FTI is maintaining its forecasts for Thai economic expansion this year at between 3 per cent and 3.5 per cent, and its estimate for export growth at 2 per cent, even though the Bank of Thailand and the National Economic and Social Development Broad have lowered their economic-growth forecasts to between 2.8 per cent and 3 per cent.

“We are keeping to our economic-growth forecast of 3 per cent to 3.5 per cent due to confidence over domestic spending, while direct investment from both domestic and foreign sources will continue to expand as the Board of Investment is providing more tax incentives for those who expand their investment this year,” he explained.

However, the government must in parallel accelerate its investment in infrastructure projects as planned, as such investment would also boost domestic spending and drive economic growth this year, he stressed.

Drought

Moreover, the government also has to have a strategy to solve the country’s drought problems by managing the water system to meet the needs of the country’s agriculture sector for the long term, he said.

Turning to the nation’s trade, he said that promoting investment and trade with neighbouring countries was another way to boost exports, especially to CLMV countries (Cambodia, Laos, Myanmar and Vietnam).

CLMV countries have showed strong economic growth and increased demand for products from Thailand, therefore Thai producers and exporters need to focus on maximising this regional opportunity, the FTI chairman said.

Promoting investment in CLMV would also expand the export market for Thai businesses, as they could us those bases to export to Europe and the US, which still offer import-duty incentives to products from CLMV countries, he added.

“We believe that if the government has measures to promote trade and investment with CLMV, speeds up its investment in infrastructure projects, and launches others measures to boost domestic spending – like the tax refund of Bt15,000 in the final five days of December last year – the TISI will recover the next time around,” Suphant said.

Meanwhile, the value of auto exports – complete vehicles, motorcycles and auto parts – in January came in at Bt76.59 billion, up 20.54 per cent from the same period |last year, thanks to higher |prices, Surapong Paisitpatnapong, spokesman of the FTI’s Auto|motive Industry Club, said yesterday.

However, car production fell 11.67 per cent to 147,651 units, |ear on year, with 100,616 of the units destined for the export market.

“We target domestic car sales this year will be between 750,000 and 780,000 units, or a drop of between 2.3 per cent and 6.13 per cent from 799,000 units last year,” Surapong said.

However, the club continues to maintain its export-market target of between 1.22 million and 1.25 million units for the year, which would be 1.3 and 3.8 per cent above shipments of 1.204 million units last year, he adde.