The commerce minister discussed measures to address the impacts of US tariffs, accelerate free trade agreement (FTA) negotiations, tap into the Indian market and manage agricultural products with representatives from the Thai Chamber of Commerce.
After the meeting, Commerce Minister Suphajee Suthumpun said the ministry prepared strategies to mitigate the impact of US tariffs, strengthen the agricultural sector, prevent product circumvention, promote trade in new markets, enhance the capabilities of Thai businesses to adapt to rapid changes in global trade rules and provide support to entrepreneurs along the Thai- Cambodian border.
“The ministry aims to finalise the details for the US tariff negotiations later this year to provide clarity for both Thai and international entrepreneurs, aiming to mitigate any potential impacts,” she said.
Mrs Suphajee encouraged all stakeholders to develop adaptation strategies now, including exploring alternative export markets and positioning products to meet evolving global demands.
Meanwhile, the ministry plans to manage 1.8 million tonnes of rice in stock by collaborating with farmers and the private sector to enhance the quality and packaging of rice, thereby adding value.
The ministry is also committed to concluding FTA negotiations to unlock new trade opportunities for Thai entrepreneurs and lay a solid foundation for sustainable economic growth, she said.
Poj Aramwattananont, chairman of the chamber, said exports to the US are beginning to feel the sting of tariffs as new orders slow.
However, the chamber believes collaboration between government agencies and the private sector will drive the economy and alleviate the impacts, he said.
Charoen Laothammatas, president of the Thai Rice Exporters Association, emphasised the need for rice varieties that align with global demand.
He said Thailand has to develop new rice varieties, enhance productivity and maintain a competitive baht value.
Chanintr Chalisarapong, vice-chairman of the chamber, said companies want the FTA with the European Free Trade Association to take effect soon, as it will pave the way for the pact being negotiated with the European Union and other countries.
Quick FTAs with additional countries could significantly boost Thailand’s competitiveness, he said.
Furthermore, the private sector proposed the establishment of a task force dedicated to rubber products to support entrepreneurs and farmers during challenging market conditions, while also encouraging Thai businesses to use local content.
Prim Jitcharoongphorn, president of the Thai-India Business Council, said India is a high-potential market with rapid growth, particularly in the areas of construction materials, home decor and food.
She asked the ministry to implement a structured approach to promote trade with each Indian state.
Sunanta Kangvalkulkij, director-general of the Department of International Trade Promotion, said it will implement urgent strategies to retain existing markets and explore new ones.
The goal is to achieve a trade volume of 8.91 billion baht during October 2025-January 2026, benefiting more than 1,270 businesses.