Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Commerce leads Team Thailand through global economic turmoil – Full Analysis.
It is also preparing to develop community products and SMEs so they can join the “Thai Help Thai” campaign in future and gain more market channels.
In addition, there are measures to help the public and small-scale operators, such as expanding mobile Blue Flag units to distribute low-cost consumer goods to vulnerable groups and help absorb agricultural produce, as well as supporting specially priced agricultural raw materials for ready-cooked food shops (curry-and-rice shops), beginning with a pilot scheme in Bangkok and the surrounding metropolitan area.
Suphajee said that, in terms of long-term economic mobilisation, Thailand must urgently adjust to a changing global context, including geopolitical conflict, economic polarisation (Extreme Polarisation) and international trade measures, particularly from key trading partners such as the United States and China, while Thai exports are still concentrated in core markets.
Thailand is also facing structural challenges, including economic inequality, a decline in the number of SMEs over recent years, and an ageing population structure, all of which are affecting domestic purchasing power.
It is therefore necessary to accelerate workforce skill development through up-skilling and re-skilling, while expanding overseas markets in parallel.
The Ministry of Commerce is accelerating negotiations on the Thailand-European Union Free Trade Agreement (FTA), which is now in its eighth round, and it expects around 20-30% of key issues to remain before the talks can be concluded as quickly as possible.