Dear Friends and Members of the Stcc

JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108

TOP NEWS SUPPORTED BY Deutsche Bank: Contemplating no deal Legal: Conciliation Act BE 2562 Member: Josef Schnyder / TPG Immo Co. Ltd. School News: The 2019 Graduates of RIS Swiss Section – Deutschsprachige Schule Bangkok say Farewell/ Economic week 2019 / Last day of school celebration 2019

THE PRESIDENT’S MESSAGE DEAR FRIENDS AND MEMBERS OF THE STCC

to-date against the US dollar. Thailand’s solid economic fundamentals – such as its massive foreign reserves, high current account surplus, and financial stability – attracts foreign inflows and consequently pushes the Thai Baht higher. It is an issue not just for the sagging PRESIDENT BRUNO G. ODERMATT export industry, but also for SERVICE many foreign pensioners who As many of our members have chose Thailand as their place STCC CALENDAR left Thailand for their well-de- to spend their golden years. If served summer holidays, my- you arrived in Thailand some Thursday 11th July 2019: self included, some of us were years ago with a pension and STCC Stamm at Arnoma really taken by surprise by the an exchange rate of 55 Baht Hotel, 18:00 prevailing heat wave in most to the Euro, your purchasing Saturday, 3rd August 2019: parts of Europe. I have hardly power suddenly diminished Swiss National Day Garden seen temperatures above 40 by 35%, not an easy bullet to Party @ Swiss Embassy, 15:30, degrees in Switzerland or Ger- swallow. Some pundits believe organized by Swiss Embassy many, but many heat records that the Thai Baht’s apprecia- and SSB for all members of were broken this year. The Bank tion is not consistent with the he Swiss Community Thailand of Thailand experienced heat economic fundamentals. of a different kind, as it imple- Thursday 8th August 2019: mented measures to curb the The heat pressure is not just on STCC Stamm at Arnoma inflows of hot money into Thai- in Thailand but also in Europe, Hotel, 18:00 land, especially off-shore in- especially in the UK, where the flows parked in short-end Thai race opened up as to who is to Thursday 12th September 2019: bonds. The Thai Baht has been become the next Prime Min- STCC Stamm at Arnoma the top performing currency ister to succeed Theresa May. Hotel, 18:00 in Asia, gaining 5.5% year- Another heated topic is how

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THE PRESIDENT’S MESSAGE SUPPORTED BY the nation will orderly with- of younger women joining the draw from the European Un- demonstrations and the wide ion (EU). Parliament soundly support it generated in the rejected three times this year general public and the gov- the plan offered by Theresa ernment. The Swiss parliament May for Britain’s departure interrupted its session for from the EU, and the EU bloc 15 minutes to pay tributes to in turn agreed twice to post- the strikes cause. It was also pone the exit date, now slat- a highly reported event in the ed for 31 October. The French foreign media such as Wall philosopher Bernard-Henry Street Journal and Financial Levy summarized this chaotic Times, as well as even support situation in a wonderful essay, from the United Nations. One where he stated that the UK can say that Switzerland is should be free to choose to be- always good for positive sur- come a “Little England”, after prises, but equality remains all, populations have as much as much as a burning issue in right to commit suicide as indi- most parts of the world as it TRINA viduals do. It will be more than does in Switzerland. INTERNATIONAL interesting to see how the future Prime-Minister-to-be will The next time you partake sort out this mess, one can in a vote in Switzerland, as only keep the fingers crossed many of us Swiss expatriates for this once great nation. do, you should consult www. easyvote.ch. EasyVote is an Switzerland also had its fair educational platform, truly in- share of publicity, where wom- dependent of political parties, en across Switzerland took whose aim is to educate and to the streets by the tens of guide voters through the often thousands in a historic strike complex issue of an upcoming to demand equal treatment election. The project special- and equal workplace condi- ly targets young voters and tions compared to their male motivates them to partake in counterparts. It was quite a Switzerland’s unique election SERVICE rare event in a country where process. It is a brilliantly de- “strike” actions are few and signed model run by 150 plus Friday 20th September 2019: many women were concerned volunteers to engage voters Site Visit at Haefele Thailand, about neglecting their work- through easy to understand Sukhumvit 64 at 13:30 place duties. It was the larg- videos and apps. It is a project est political demonstration funded by the “Dachverband More details for in recent history, even bigger Schweizer Jugendparlamente” above events please wait than the women’s strike in and demonstrates Swiss in- for the invitation-mail or get 1991. What was encouraging novation and creativity even it from www.swissthai.com, to see was the large number in the realm of political dis- click on “events”.

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THE PRESIDENT’S MESSAGE SERVICE course. The better educated in early September and we will voters are, the better our dem- let you know the date well in MEMBER DETAIL ocratic political systems work, advance of this event. UPDATES and the better the outcomes for the nation, its communities With this in mind, I wish you Do you have changes among your and individuals. a nice summer break. Please delegates or changes to your continue to join or monthly e-mail, mobile, telephone, Inside this edition you will Stamm and partake at our net- or fax numbers? also find an enlightening ar- work events. ticle by Remy Friedman from Please send all updates to the Department of Foreign With my best wishes [email protected] Affairs, Human Security Di- vision, about “Business and Human Rights”. The question MEMBERSHIP which comes to mind is: why Bruno G. Odermatt-Maag should human rights matter President FEES 2019 to any business and how can The invoices for the year 2019 will it improve bottom line profit- *** be sent out by e-mail during Janu- ability? Hopefully you might Contact the President: ary 2019. Kindly make sure that you find some good answers in this Bruno G. Odermatt approve the invoice and forward it thoughtful guest article. President STCC for payment to your accounting and [email protected] make sure that THE PAYMENT SLIP As July and August are rela- Tel: +66 2 652 1911 COPY IS SENT TO tively less-intense months in our business calendars, we do [email protected] not have any major events of business luncheons planned Thanks for your support. during that period. Our next event will be a company visit

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3 JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108

ECONOMY SPECIAL REPORT BY DEUTSCHE BANK CONTEMPLATING NO DEAL

Our takeaway from the Asia Access Asia Confer- ed to rate cuts by the Fed or PBoC, such policy ence and the subsequent roadshows was that, actions are unlikely to save the global economy while investors are clearly concerned over the from a recession. Moreover, no deal suggests rapidly worsening trade tensions, they are re- a breaking up of the global supply chain as we luctant to take more aggressive positions in the know it today, putting the global economy on a market, given the unpredictable evolution of the disruptive path towards a bipolar system. trade negotiations and restrictive actions by the authorities. As the US and China continue to So what would be the cost to China in this regard? harden their positions, however, we thought it As our China economist has put it, a hollowing- would be prudent to contemplate the potential out of US-related production would have a sig- direct effects and collateral damage arising from nificant impact on the economy. If tariffs and no deal. Thrown into this escalating conflict is a other barriers were to become so costly that all tariff measure by the US on Mexico over illegal final production related to the US market was migration, potential effects of which we also moved to outside China – including all of the up- consider. While an all-out trade war would quick- stream supply chains – China’s industrial output ly prompt broader macro policy easing, not lim- would contract by 5%, also resulting in a nega- ited to rate cuts by the Fed or PBoC, such policy tive spillover effect of 1.2% in non-manufactur- actions are unlikely to save the global economy ing sector valueadded. The aggregate shock to from a recession. Worse still, no deal also sug- China’s GDP would be 2.6%, affecting 9.7mn gests a breaking up of the global supply chain as in manufacturing jobs and 6.3mn in related we know it today, likely putting the global econo- non-manufacturing jobs, raising the unem- my on a disruptive path towards a bipolar system. ployment rate by 2.3ppts, excluding secondary round effects. A more benign scenario assumes Contemplating no deal restriction in the supply chain adjustment, in the face of constraints other economies face in As the two superpowers, the US and China, hard- skilled labor and infrastructure, for example. en their positions - now also dishing out entity Under such a scenario, the negative shock to the lists, the rest of the world shudders in the face economy may be limited to 1%, with total poten- of the increasing likelihood of no deal. No deal tial job losses of 5.7mn, resulting in an increase is likely to see not only higher tariffs but also of 0.8ppts in the unemployment rate. Such a more restrictive non-tariff barriers, expanding benign scenario may not be an option as the US the trade ban1 on selected goods and services. and China adopt broader non-tariff barriers, in- Thrown into this escalating conflict is a tariff cluding the banning of critical tech components, measure by the US on Mexico over illegal migra- against each other (see report ). tion, despite their trade deal (albeit passage through Congress is also looking very difficult), For the US, the impact would be twofold - high- raising questions over the value for China of any er prices for consumers and higher production deal with the US. While no deal would quickly costs and loss of market share for US compa- prompt broader macro policy easing, not limit- nies. The emerging evidence suggests that US

1 Following the US entity list, China is preparing its own list of unreliable entities focusing on US technology firms

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ECONOMY SPECIAL REPORT BY DEUTSCHE BANK

world, appears to be a price-taker in international markets for intermediate goods. (see report ). Our US colleagues estimated that last year’s 10% tariffs on USD200bn of imports from China likely raised core CPI inflation by at most 15bp, while a 25% tariff on the remaining of imports from China could add about 40-50bp (see report ).

In particular, without tariff exemption, our tech analyst sees the third-round tariff on China (of the remaining USD300bn worth of goods) resulting in a 8.3% rise in consumer electronic goods prices and a 6.6% decline in overall demand for those goods (given the price elasticity of ~0.8). Given their 100% reliance on China for production of US-bound goods, the impact on US companies, OEMs in particular, is likely to be significant, including a decline in their market share to third party competitors not producing in Chi- na. In contrast, the impact on Chinese OEMs is likely to be rather limited given their very small US market share. Given the likely large negative impact on US firms, our tech analyst expects a temporary exemption for smartphones/tablets and wearable devices from higher tariffs, allow- consumers have borne substantially all of the ing for a grace period to move their production tariff increase, not the exporters to the US. The out of China. The US government will host pub- US, despite having the largest economy in the lic hearings on tariffs during the 17 June week

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ECONOMY SPECIAL REPORT BY DEUTSCHE BANK and determine exemptions to certain goods from relocation out of China, with only 7% thinking China, if any. US companies would not only face there will be a shift to the US. However, even sharply higher production costs if they move pro- Vietnam faces a growing threat to its role in the duction to the US, but also significant loss in their Asian supply chain as its trade balance with the China market share as Chinese consumers retali- US grows. The US Treasury has included Vietnam ates against any US brands out of patriotism, as in the monitoring list in its latest FX policy re- we have seen in the past. (see report ). Note that port . Although the US has limited its pressure US subsidiaries operating in China sold over US- on Vietnam to encourage sustained structural D223bn of goods in China (in 2015) (see report ). reforms, for now, it did nevertheless call on it to reduce FX intervention and allow for gradual In the event of an all-out trade war, there are no appreciation of the VND. It also called on Viet- winners - only in relative terms at best. Korean nam to enhance the timeliness and transparency MNCs have relatively a diversified production ca- of data on foreign exchange reserves, interven- pacity, with factories also in the US. In fact, their tion, and external balances. It remains to be China production share was limited to 16% for seen if rising trade tensions are largely limited memory, 24% for large size display, 25% for smart- to the US and China or broaden to the rest of the phones, and minimal for TVs and white goods. Giv- world. At the same time, the US plan to impose en their production capacity outside China, Korean escalating tariffs (an initial 5% on 10 June to MNCs can manufacture their products elsewhere to rise to 25% by 1 October) on all Mexican imports meet US demand, including in the US, depending unless the country stems the flow of illegal mi- on the product, to minimize the impact of tariff gration not only raise questions over the value hikes, as long as they are not applied globally (see of a trade deal for China but also illustrates the report ). Aside from an extended ban, the biggest vulnerability of trading through a third party. threat to MNCs with diversified production ca- Our auto analyst estimates that a 10-15%+ tariff pacity is indirect impact, via weaker demand, for would destroy any economic basis for auto trade both final goods and components. In fact, despite between Mexico and the US for Korean and Japa- the opportunity to gain market share, our tech nese firms. (see report ) For its part, a 25% tariff analysts have cut Korean tech companies’ earnings would cripple the US auto industry, with over a estimates, due to the likely fall in overall demand quarter of tariff bill falling on it. (see report )2 (see report ). Without temporarily exemptions for smartphones/tablets and wearable devices, Tai- By evoking national security concerns, the US wanese companies are likely to feel greater pain and China may try to significantly reduce their than their Korean counterparts in this trade war, reliance on each other, hinting at a permanent given their concentrated exposure to the two mar- disruption to Asia’s supply chain, albeit per- kets and tech goods, which they produce largely in haps limited to sensitive and critical technolo- China. Of those companies significantly affected, gies. In this context, MNCs in China are likely to Taiwanese companies topped the list. (see report ) accelerate relocation of their production capacity exposed to the US to elsewhere, while China When asked, an overwhelming majority of inves- is likely to accelerate its efforts in self-suffi- tors polled at dbAccess Asia Conference chose ciency, consistent with its Made in China 2025 Vietnam as the destination for supply chain policy. Moreover, any expansion of trade bans

2 Having said that, however, the US Congress may use expedited procedures provided by the National Emergencies Act (NEA) to make the International Emer- gency Economic Powers Act (IEEPA) of 1977 unavailable to the president or enact new legislation to amend it so that it may not be used to impose tariffs on imports. There are also efforts on the part of Mexico to avoid it.

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ECONOMY SPECIAL REPORT BY DEUTSCHE BANK to their parties ensures a significant disruption in tion of the trade negotiations and actions by the the global supply chain, covering both hardware authorities. When asked, investors were evenly and software. The cost of relocation of produc- split (45% on either side) on the yuan, expect- tion to the US appears somewhat exorbitant. For ing it to stand either 6.5-7 or 7-7.4 against the example, Arron Flaaen et al found that the cost to US dollar. While the yuan may break higher above consumers per job created in the washing machine 7 against the US dollar in the event of no trade sector stood at USD817K, while that for the tire deal, the market remains hesitant in testing the sector stood at USD900K (see report ). Chinese authorities, for now. In this regard, the G20 summit on 28/29 June may be significant in Clearly, rising trade tensions have raised the risk the timing of the breaking point for the yuan. On of a global recession and central banks are tak- the other hand, the breaking point for a trade deal ing note. In last month’s AMI, we illustrated the may be 19 August when the Chinese tech giant’s potential impact of an all-out trade war - a global temporary (90-day) relief from the US Commerce recession (see report ). Increasing risk of a re- Department’s entity list comes due. cession in turn hints at a race to the bottom for monetary policy rates. Not surprisingly, when in- There was limited conviction on the resolution of vestors were asked their preferred asset class by trade tensions by year-end – with them possibly the end of the year, rates got most votes. worsening, as the majority of investors (68%) expected the US to hike auto tariffs as well. As for Our takeaway from the Asia Access Asia Confer- the US-China trade tensions, in one poll taken on ence (see report ) and the subsequent roadshows 21 May, about 52% of investors polled expected was that, while investors are clearly concerned a deal to be reached - after the G20 meeting but over the rapidly wrsening trade tensions, they within 2019 – while 41% expected no deal in 2019. are reluctant to take more aggressive positions In another, only about 31% of investors polled ex- in the market given the unpredictable evolu- pected a resolution, while 49% thought it will be

3 Note also that the Telecommunications Denial Order Enforcement Act is a bi-partisan bill directing the President to impose orders banning the export of parts or components to Chinese telecoms in violation of export control or sanction laws.

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ECONOMY SPECIAL REPORT BY DEUTSCHE BANK

“pretend and extend”, albeit only about 20% ex- tive of their wish to play a mitigating role between pect it to escalate further. In retrospect, the latter the two superpowers – as suggested in the recent suggests that investors underestimated the hostil- Shangri-la summit – the rest of Asia may also be- ity of the two super powers. come collateral damage. And, a breakdown of the liberal global economic order poses an existential While a deal is still possible, albeit more likely af- threat to an export-led growth model. Such a de- ter the summit, its sustainability is in question, velopment would clearly test those investors’ con- as an end to the US and China’s power struggle viction over Asia’s growth advantage over the rest looks unlikely until a stable bipolar system may of the world. At the same time, a breakdown of the be found. In its national defense strategy report liberal global economic system also suggests an , the US noted that “the central challenge to US end to the global financial system as we know it. prosperity and security is the reemergence of long- term, strategic competition by what the National Security Strategy classifies as revisionist powers. It is increasingly clear that China and Russia want to shape a world consistent with their authoritarian Juliana Lee, model - gaining veto authority over other nations’ Chief Economist , +852 2203 8312 economic, diplomatic and security decisions.” Re- flecting its broader security concern, the US has introduced policy initiatives to limit foreign access to sensitive and critical technologies, including tougher screening process for inbound investments and greater export controls of those technologies.3 It is also reevaluating its posture on foreign research collaboration, while increasing scrutiny of researchers from sensitive countries as recent legislative proposals seek to restrict foreign students’ access to certain research projects. For its part, China has raised warning to those traveling to the US, echoing its warnings against Japan and South Korea in 2012 and 2017, respectively. There is also the sharp drop in mainland Chinese visitors to Taiwan after the 2016 presidential election. Re- call economic costs - a combination of sharp drop in Chinese tourists and boycott of Korean businesses - imposed on South Korea over THAAD. Neither South Korea nor Taiwan saw their tourism recover - far from their rising trend earlier. While a bipolar system does not necessarily point to a cold war between the two superpowers, no trade deal would hint at what lies ahead for Asia. Worse still for the region, any insistence on economic and security al- liances by the two would pull it apart, once again, ending greater integration of the region. Irrespec-

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ECONOMY SPECIAL REPORT BY DEUTSCHE BANK

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RECENT STCC EVENT SOLAR IMPULSE – GROUND CREW INSIGHTS

STCC Luncheon on 5th June at Ar- The very lively presentation cov- consumption and the recently noma Hotel ered the start of the flight from started Solar Impulse Foundation Abu Dhabi with 30 crew members has the target to bring together Mrs. Raphaela Nicolet, currently going ahead to prepare and then all environment protecting tech- a lawyer at Lawfirm Trocaldyo Co. onwards around the globe. The nology and knowledge to support Ltd. in Bangkok (STCC corporate plane was only 2300 kg travelling sustainable projects of renewable Member) , was part of the ground with a cruising speed between 50 energy. Over 50 participants en- crew of the Solar Impulse project to 100 km/h and had 17’248 solar joyed this enriching presentation some years ago, and she shared cells distributed over wings, tail as well as the excellent Lunch pre- her experience during the flight and body. pared by Arnoma Hotel. around the world without fossil energy very enthusiastically with Commercialization of electric fly- the members of the STCC and SSB, ing will probably take some gener- Beluthai Chamber and Sponsor ations, but the project shall make Solvay, as well as guests. the people reflect on their energy

10 JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108

LEGAL CONCILIATION ACT BE 2562

Contribution by Khun Dhira Yoonaidharma, If either party does not comply with the concili- Hutter & Dhira ation award, the other party can take the case to court in order to obtain the court injunction and The new Conciliation Act BE 2562 (2019) was after that the execution of asset will be started published in the Government Gazette on May 22 the same process as normal court case but it will and was effective on May 23, 2019. take time and legal cost should be less.

The law specified the conciliation process to be The law is new and there will be more regulations endorsed by the law and could be forced legally. and procedures to be issued by the Supreme It can govern the conciliation of both criminal Court President. Progress will be reported upon and civil disputes. available.

Criminal dispute is related to the embezzlement, Dhira Yoonaidharma cheating and other compoundable offences and Hutter & Dhira Law petty offence. The conciliation can be initiated by police officer at police station. www.hutterdhira.com [email protected] Civil dispute is related to the land issue (except land ownership dispute), inheritance and other dispute with the disputed amount not exceed Baht 5 mio. The conciliation can be done at des- ignated place as indicated by the court of justice and to be conducted by the licensed conciliator.

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NEW MEMBERS ASSOCIATE MEMBERS:

Josef Schnyder

Hyde Condo Sukhumvit Road Soi 13 Sukhumvit Road, Klongton-Nua, Wattana, 10110 Bangkok

Email: [email protected] CORPORATE MEMBER:

TPG Immo Co. Ltd. Delegate: Mr. Lionel Georges Emmanuel Barbier, Managing director 400/726 Moo 12; Nongprue, Banglamung, 20150 Chonburi Activity: Advice and Information about EEC and real estate development Phone: 038-110-697 E-mail: [email protected]

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK “AND THE OSCAR GOES TO…“: THE 2019 GRADUATES OF RIS SWISS SECTION – DEUTSCHSPRACHIGE SCHULE BANGKOK SAY FAREWELL

With bright students, proud parents and promi- In addition to the Matura graduates, thirteen stu- nent guest speakers, RIS Swiss Section – Deutsch- dents from Grade 10 got awarded with admission sprachige Schule Bangkok presented an impressive to the Gymnasium (Oberstufe) and one student program to their guests on Friday June 14th, 2019 with the Realschulabschluss. The diplomas were at this year‘s graduation ceremony, where the handed over by H.E. Mr. Ivo Sieber, Ambassador of school bid farewell to the five Matura graduates Switzerland in Thailand, and Mr. Joachim Hecker, who successfully completed their school career in Head of the Cultural Department of the Federal Re- 2019. The school welcomed students, parents, em- public of Germany in Thailand. Together with H.E. bassy representatives from Switzerland, Germany Dr. Eva Hager, Ambassador of the Republic of Aus- and Austria, representatives of the chambers of tria in Thailand, they all praised the students for commerce, members of the Matura Commission their success and congratulated them for reaching and the School Board, teachers, representatives a very important milestone in their life - the com- of Ruamrudee International School and friends of pletion of a long learning process. the school during a formal ceremony that honors years of dedication and hard work across all 14 dis- With enthusiastic and emotional parting words ciplines of the Matura program. from class teacher David van Ofwegen, the five

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK

students from Grade 12 will move on to the next Viktoria Sturm and Thilo Ströhler from Grade 10 stage of life as they will continue their education also used their speech to say “thank you” to all in different locations all over the world. In a poig- teachers, staff and their parents for their big sup- nant speech, Siriguine Chongkavinit and Moritz port over the years. Winkelmann, students from Grade 12, expressed their gratitude to all the teachers and parents who In the festively decorated Performing Arts Centre helped them achieve their goals. of Ruamrudee International School, students of

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK pants of the ceremony and appreciated and praised the versatility of the Matura and the tremendous opportunities it opens up for our students and their individual paths of life. Following the ceremony, the guests had the chance to socialise in the music room of the school, enjoying different de- licacies as well as a vin d’honneur, offered by the Embassy of Switzerland.

One day later, the school community met again in the ballroom of the Sheraton Grande Sukhumvit Hotel for this year’s Matura ball, with the theme “Oscars”. the Secondary School captured the stage and en- tertained the audience with an extraordinary and At this social highlight of the German-speaking memorable farewell performance. community in Bangkok, people danced and cele- brated long into the night. Entertainment by the Mr. Knut Sierotzki, President of the School Board, students and a fantastic door prize kept the ex- took the opportunity to thank H.E. Mr. Ivo Sieber, citement high throughout this wonderful evening. Ambassador of Switzerland in Thailand, on behalf of the entire school community. H.E. Mr. Ivo Sie- ber is leaving Thailand and has worked tirelessly for the interests of the school for many years and has supported the school in reaching its essential goals.

The ceremony closed with concluding words from Principal Mr. Simon Dörig, who thanked all partici-

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK ECONOMIC WEEK 2019

In the project week the students of grades 9 and 10 learned together with our two experts from Switzerland, Ruedi Frey and Franz Gübeli, to manage virtual economic enterprises. The Econo- mics Week is a joint project offered by the Ernst Schmidheiny Foundation, the Chambers of In- dustry and Commerce, and is supported by many Swiss Companies.

This year the students took on the role of managing their Schweizer Uhren - watch company. The students experienced the way a company func- tions in the market in a realistic environment. They were challenged to manage their companies creatively and responsibly.

On Wednesday the students visited „Bangkok Air Catering“ (BAC) near the airport. On this visit the students could experience how a real company works. Thanks to Mr. Linus A. E. Knobel, Ma- naging Director of the company, who made this visit possible. The students learned about the

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK

challenges and high standards of the production ting. After the presentations all students got a process in this company. At the end of the visit certificate that is useful for future applications. we got a first-class menu which tasted fantastic and each person received a special gift. The Economics Week 2019 owed its great success to the instructors Ruedi Frey and Franz Gübeli. On Thursday, 13th June, the students had the A great thanks for their voluntary and extraor- chance to present their impressive results to all dinary work. interested members of the school community and their parents in form of an Annual General Mee-

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK LAST DAY OF SCHOOL CELEBRATION 2019

On the last day of school on Wednesday, June 19th, 2019 teachers, families and friends were invited to join the students for the year-end celebration at the Performing Arts Centre of our partner school the RIS.

The guests were greeted with welcoming words from Prin- At the event, teachers, staff and Another highlight was the pre- cipal Simon Dörig. Students students who are leaving the sentation about the successful from kindergarten all the way school were bid farewell to with 2019 SEA Games in Manila. up to upper Secondary captu- a ceremony and big round of ap- red the stage and provided the plause. Afterwards, members In his closing words, the Princi- audience with an extraordinary of the Student Council (SMV) pal appreciated the Sanuk Team and memorable farewell perfor- thanked the parents who sold for organizing the pleasant last mance. Well-rehearsed songs snacks during the breaks for their day of school celebration and and performance pieces imme- great effort, highlighted the con- said thank you to all members diately opened the audience’s tribution of the library team and of the school community, es- hearts. Jelena Gioia Büchi and finally thanked all members of the pecially to all the teachers, the Leonie Zindler from Grades 5 school administration and the school leadership team and the and 5E led through the very well maintenance team for their ex- board for their dedication during - received performances. cellent work throughout the year. the whole school year.

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RIS SWISS SECTION DEUTSCHSPRACHIGE SCHULE BANGKOK

Important events in the second semester of the school year 2018-19:

08.08.2019 First day of school (all grades) - Welcoming Ceremony (9:30) 28.09.2019 Open House Info Session (13:00 – 15:00) 30.10.2019 Annual General Meeting of SEA 05.11.2019 Open House Day (7:30 – 14:40) 11.11.2019 Loy Krathong – Day 15.11.2019 Lantern Parade (KG - Grade 3 - evening) 06.12.2019 St. Nicholas visit (Primary School) 13.12.2019 Flea Market (Primary School) 18.12.2019 Christmas Party (from 13:00)

Please visit our website - www.ris-swiss-section.org - and get more information about our upcoming events.

19 JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108

SWISSNESS AND RESPONSIBLE BUSINESS SWISSNESS AND RESPONSIBLE BUSINESS

Between the 10 and 14 June work under which to pursue this the end users of their products 2019, Bangkok hosted a series of dialogue, the Thai government or services. important events as part of the being the first country in Asia first ‘Business and Human Rights to soon launch its ‘National Ac- Incidents such as the Rana Plaza Week’ to be held in Thailand, tion Plan on Business and Human building collapse illustrate that with a sizeable global and ASEAN Rights’ (NAP), while Switzerland sourcing from countries where region participation. Switzer- launched its own NAP in 2016. production costs are low helps land was very active: the Swiss on the one hand companies to Ambassador opened the „AICHR But what is this all about and why provide clothing at low prices to Interregional Dialogue: Sharing should human rights matter to their customers, – but lax safety Good Practices on Business and business ? They do because the standards can have severe im- Human Rights“, reminding that actions of business companies pacts on thousands of workers. “the Swiss government expects can affect people’s enjoyment of business enterprises that are human rights either positively As the real actors of today’s glo- based and/or operate in Swit- or negatively. By creating jobs balization, business companies zerland to respect human rights they contribute to economic and have an increasing responsibi- in all of their business activi- social development and the rai- lity for the social, human and ties, wherever they operate” and sing of global individual living environmental impact of their Swiss government representa- standards. But they can also activities, particularly in fragile tives engaged with the govern- affect the human rights of their or developing areas. Investors, ment of Thailand at various employees and contract wor- governments, clients and con- levels on related issues. Swit- kers, their customers, workers sumers are expecting more and zerland and Thailand are about in their supply chains, communi- more from companies (inclu- to have a clear common frame- ties around their operations and ding SMEs) that they are aware

20 JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108

SWISSNESS AND RESPONSIBLE BUSINESS of their impact on human rights cing, transporting, selling or bu- des practical advice on how to and that they take precautionary ying their products, which makes implement human rights due measures to prevent abuses. conducting human rights due di- diligence along the entire sup- ligence not an easy task. ply chain. Under the UN Guiding Principles on Business and Human Rights, Switzerland is therefore reaching On the government‘s new web- a global framework adopted at out to all companies, including site, www.nap-bhr.admin.ch , the United Nations in 2011, the by providing them practical companies will find a lot of use- corporate responsibility to res- tools, such as the recently pub- ful information on business and pect human rights applies to all lished information flyer that pro- human rights (workshops, ins- business enterprises, regard- vides Swiss SMEs with a practical tructions for human rights due less of their size, the sector to overview on the steps required diligence, industrial initiatives which they belong, their ope- to implement human rights due as well as practical examples). rating environment, ownership diligence according to the UN or structure. Guiding Principles on Business By Remy Friedmann and Human Rights and due dili- On 9 December 2016 the Federal gence guidance of the OECD (ht- Senior Advisor Council adopted a report outli- tps://www.nap-bhr.admin.ch/ Desk Human Security ning a national action plan for napbhr/en/home/unternehmen/ and Business the implementation of the Uni- brochuresme.html ) Federal Department of ted Nations Guiding Principles Foreign Affairs (FDFA) on Business and Human Rights. Although all sectors may be ex- Human Security Division (NAP). Switzerland is one of the posed to risks related to human Deputy Head, Human Rights first countries to adopt such a rights, some sectors are more af- Policy Section strategy in order to promote co- fected than others by potential Bundesgasse 32, 3003 Bern herence between business acti- violations of human rights. vities and human rights. [email protected] The commodity sector, in parti- www.eda.admin.ch The Swiss government expects cular, faces serious human rights all business enterprises that are risks in exporting countries. based and/or operate in Switzer- land to respect human rights in Switzerland is one of the most all of their business activities, important hubs for raw mate- wherever they operate, indepen- rials in the world. That is why dently of their size, their acti- the Confederation has develo- vity or their sector. This applies ped, in collaboration with va- also to SMEs, as technology and rious interest groups (cantons, globalization have enabled even NGOs and the private sector), small companies to source and a guide for the application of sell across the globe. The lon- good practices in the commo- ger and more complex business dity trade. The guide describes value chains get – the more re- what is expected of commercial moved businesses become from companies in terms of respect their impacts on people produ- for human rights and provi-

21 JULY 2019 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #108