Commerce Ministry to work with private organizations in boosting Thai export

Published on April 27, 2013 by TFP   ·   No Comments

BANGKOK, 27 April 2013 – The Ministry of Commerce has met with private organizations, which include the Federation of the Thai Industries (FTI), the Thai Chamber of Commerce and the Thai Bankers’ Association, to seek solutions to the rising Thai Baht which is affecting the export industry.




The private organizations expressed their concerns over the stronger Baht, citing that its impact on the export sector and the overall economy will be inevitable. In addition to the exporters, suppliers of raw materials in Thailand will also be affected as product manufacturers might begin to look elsewhere beyond domestic sources for cheaper materials.




The three organizations proposed that the Ministry of Commerce adopt new tax measures, establish new markets for Thai products in India, Africa and the Middle East, eliminate trade barriers of importing countries, increase the standards of Thai products and boost border trades.




They would also like to see the Thai Baht being used as the standard currency in border trades. Additionally, they asked that a joint trade committee between the private sector and the Commerce Ministry be established to address trade-related issues, with its meeting to be held every quarter to assess the trade situation.

(NNT: Nuppol Suvansombut)

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Article source: http://www.thethailandlinks.com/2013/04/27/commerce-ministry-to-work-with-private-organizations-in-boosting-thai-export/