So apart from the initiatives I touched upon, we also welcome your inputs on what more should be done to better capture the opportunities in the structured credit space riding on the conducive macro trends I mentioned earlier. 25. Once again, I thank IMN for having me here today. I wish you all a very successful Summit. 1 1Simmons Simmons, “Synthetic securitisation: opening the Basel toolbox in Asia-Pacific”, 13 August 2020 3/4  BIS central bankers' speeches  4/4  BIS central bankers' speeches
Prasarn Trairatvorakul: Thai economy – tapping the untapped opportunity Speech by Dr Prasarn Trairatvorakul, Governor of the Bank of Thailand, at the inauguration of the RMB Clearing Bank in Thailand and 5th year celebration of the ICBC (Thai), Bangkok, 22 April 2015. *  *  *  1. Your Excellency Ambassador Ning Fukui, Chairman Jiang, Chairman Hu, Dr. Zhigang Li, distinguished guests, ladies and gentlemen, thank you for the invitation to give a few remarks on the occasion of the inauguration of ICBC (Thai) as the official Renminbi clearing bank here in Thailand. 2. This development of the RMB Clearing Bank in Thailand and certainly also to celebrate the 5th Anniversary of ICBC (Thai) is in fact the result of the long and continued ties between China and Thailand. It has marked another important step in further development of our financial ties following the signing of the Renminbi – Thai Baht Bilateral Swap Agreement and the Memorandum of Understanding with the People’s Bank of China on the establishment of the Renminbi Clearing Arrangements in December 2014. 3. Today, I was invited to talk about Thai economy. So I am pleased to have the opportunity to share with you some of my observations on the current state of the Thai economy. Let me humbly start from some of the challenges we are facing, the economy is currently reeling from both internal and external headwinds. Internally, the stagnant technology and labour readiness has so far taken a toll on Thailand’s economic expansion.