Bangkok: The Minister of Commerce has unveiled plans to extend low-interest soft loans to support small and medium-sized enterprises (SMEs) and small businesses impacted by the ongoing situation at the Thai-Cambodian border. The minister assured that affected entrepreneurs would receive comprehensive support to mitigate the challenges posed by current border conditions. The announcement also highlighted that the pork import deal with the United States involves a limited quantity, with an emphasis on safeguarding the interests of local farmers and maintaining Thailand's strong position.
According to Thai News Agency, Minister Chatuporn Buruspat elaborated on the measures aimed at assisting businesses affected by the border situation. He noted that the situation is under continuous monitoring, with modern trade outlets in Cambodia still selling Thai products. Businesses have been adapting by rerouting their transportation of consumer goods through Laos. While acknowledging the adverse effects on businesses, particularly small SMEs, the minister assured that the government is committed to providing compensation and highlighted the introduction of soft loans as a preliminary support measure.
The minister also addressed the development of a One Stop Service Center intended to support entrepreneurs in navigating the recent 19% import tariff imposed by the United States on Thai goods. Although tariff negotiation details remain to be clarified, the center is operational, offering assistance not only for US tariff-related issues but also other challenges. Entrepreneurs have started engaging with the center, with further discussions planned.
On the topic of pork imports from the United States, the minister emphasized that existing Thai standards, such as those for red meat accelerators, will be upheld. While the agreed import figures with the US are small, the minister reassured business operators that tariff negotiations have considered the impact on farmers, although the matter remains unresolved.
Additionally, Minister Chatuporn addressed the issue of declining rice prices. He outlined efforts to cut agricultural production costs through the "Green Flag" project and stressed the need for sector-wide cooperation to identify new markets. He has directed the Department of Foreign Trade to explore market expansion opportunities with China, Bangladesh, and Saudi Arabia. Concurrently, measures are being implemented to combat the decline in rice prices, including a compensation scheme for second-crop rice. The minister promised further clarification of these measures at the upcoming National Rice Policy and Administration Committee meeting.