Bangkok: The Deputy Minister of Commerce has announced the implementation of four key measures to address the impact on consumer goods and Thai-Cambodian border trade, along with additional measures to support US trade negotiations and a 19% import tax. Mr. Chantavit Tantasith, Deputy Minister of Commerce, outlined measures to assist individuals and businesses affected by the situation on the Thai-Cambodian border, emphasizing four urgent measures: 1. Controlling the prices of essential goods under the "No Shortage, No Excess Prices" approach to prevent opportunistic price increases and monitoring the situation daily; 2. Assisting in the clearance of inventory by coordinating with retail stores and distribution points; 3. Addressing logistics issues by collaborating with relevant agencies to find transportation solutions; and 4. Supporting the search for new markets, both domestically and internationally, to increase trade opportunities and diversify entrepreneurial risks. Proactive work is crucial to mitigat e the impacts on border areas and create new trade opportunities, enabling entrepreneurs to thrive in changing circumstances.
According to Thai News Agency, regarding the trade agreement between Thailand and the United States, Mr. Chantawit explained that the US approval of a 19% import tariff on Thai products is the first step in maintaining Thailand's competitiveness. At the same time, Thailand must implement supportive measures and structural adjustments to ensure maximum benefit for businesses, particularly by promoting Rules of Origin and Regional Value Content (RVC) measures related to the use of raw materials and the proportion of domestic production.
The Ministry of Commerce is updating regulations to align with US measures and is supporting entrepreneurs to adapt and find new markets (diversification) to increase export opportunities without abandoning the main market of the United States.
He emphasized that mitigation measures and policy support measures for international trade must be implemented in tandem to preserve the interests of entrepreneurs and Thailand's long-term competitiveness.