BANGKOK, 16th August 2019 (NNT) - Thailand’s export sector has been affected by the ongoing trade war between China and the United States, with the situation likely to escalate after the US President, Donald Trump, announced that the US will add more tariffs to Chinese imports. As for Thailand, the Ministry of Commerce has held a meeting of the Joint Public and Private Sector Consultative Committee (JPPSCC) to seek measures to stimulate the export of Thai goods.
The first round of the JPPSCC meeting resolved to set up a war room to monitor the economic situation and come up with proactive measures to stimulate the Thai export sector. One of the plans is to penetrate the markets of Cambodia, Laos, Myanmar, Vietnam, China, India, South Asia, ASEAN and the Middle East as there is still room to expand exports to these destinations; Thailand will focus on individual products and services. Concrete results can be expected within three to six months. The Ministry of Commerce will continue promoting cross-border trade and discuss ways to eliminate obstacles to trade, in border areas.
The Deputy Prime Minister and Commerce Minister, Jurin Laksanawisit, said on Thursday, that the JPPSCC will meet every month to follow up on the efforts to improve the economic situation. This year’s 3% export growth target, won’t be revised at this time, as the government will have to consider the war room’s action plan first. The government will invite commerce ambassadors to a meeting by the end of this month to evaluate various economic factors, such as the trade war between China and the US, fuel prices and foreign exchange volatility. The close collaboration between the public and private sectors is expected to improve the output of the export sector.