Commerce minister says country must do everything it can to secure maximum benefits
The Ministry of Commerce has a mission to ensure that exports, the most powerful engine of the Thai economy, return to full power and align with emerging global standards, according to minister Suphajee Suthumpun.
“The diversity of our offerings and openness are key advantages for Thailand. We can foster trade with all nations,” she said at the Bangkok Post Economic Forum 2025 on Friday.
To formulate trade policy in a challenging world, global trends must be considered, she said.
“We need to carefully select our trade partners and determine our involvement in supply chains. We must partner with reliable countries that pose low risks,” she added.
Ms Suphajee highlighted friend‑shoring, a strategy of shifting supply chains and manufacturing to allied countries. This approach is leading nations to form more trade partnerships, both on a bilateral and multilateral basis, with those they view as allies.
“We must consider how our strengths can complement other countries’ pain points and how their strengths can support our weaknesses,” she said.
As decarbonisation is another evolving trend, Ms Suphajee said the government must formulate and carry out policies that encourage the private sector to make the transition from conventional to green models.
Digitisation is another area in which Thailand is seeking to reap more benefits. Ms Suphajee said she was hopeful that the finalisation of the Asean Digital Economy Framework Agreement in April 2026 would bolster trade and exports of Asean countries.
And while Thailand faces the challenges from a declining birth rate and an ageing population, the minister sees an opportunity to establish the country as a global wellness hub.
“We can leverage our strengths in hospitality, medical care and cost of living to create a new engine for growth,” she said. “Collaboration will be key; we should partner with countries or experts in innovation, lifestyle and biotechnology to develop this hub.”
Despite solid export growth of 13.9% year-on-year in the first nine months, the pace is expected to slow in 2026 due to supply chain disruptions, decreasing agricultural competitiveness and appreciation of the Thai baht.
The high growth figure for 2025 mainly reflects a spike in shipments to the United States in the first half of the year by businesses worried about the impact of tariffs.
The minister emphasised that Thailand “must maintain balanced diplomatic relations with major powers” and reposition itself in the supply chain while strengthening connectivity within Asean and the Asia‑Pacific.
“We must leverage the strategic location at the heart of the Asean region and create Thailand as a real logistics hub connecting the North Corridor to the South Corridor and the East Corridor to the West Corridor,” she said.
She also urged Asean countries to increase intra‑regional trade and work together to develop resilient supply chains, highlighting the importance of collaboration between the government and the private sector in pursuing effective trade policies.