Bangkok: The Commerce Ministry is advancing its initiatives to tackle the high cost of living and restructure Thailand's economy amidst ongoing economic challenges. Deputy Prime Minister and Minister of Commerce, Supajee Suthamphan, has outlined both short-term and long-term strategies to address these pressing issues.

According to Thai News Agency, the government recognizes the prolonged economic crisis exacerbated by the energy crisis and is taking decisive actions to mitigate its effects. In the immediate term, the "Thai Helps Thai" project aims to ease the public's financial burden by providing essential goods at affordable prices nationwide. This initiative will expand distribution channels from modern retail outlets to local shops, markets, and government agencies, aligning with existing government measures like the "Half-Price" scheme and the State Welfare Card.

The agricultural sector is a focal point, with the government expediting management efforts for all agricultural products, particularly rice, Thailand's primary cash crop. Strategies include balancing market price and supply, boosting production efficiency, reducing costs, promoting value-added processing, and enhancing market connections to stabilize prices and improve farmers' income. Additionally, the government is focused on enhancing entrepreneurs' capabilities, especially in online commerce, by expanding digital sales channels, promoting Thai Geographical Indication (GI) products, and franchise businesses to fortify the grassroots economy.

On the international trade front, the government aims to balance goods, markets, and services by promoting the use of domestic raw materials and agricultural processing to add value. It plans to develop logistics systems and connect supply chains with global markets, maintaining key markets such as the United States and China, while exploring new opportunities in the European Union, India, and Africa. The government will also boost the service sector, with an emphasis on high-value tourism and health businesses, to bolster long-term income. Efforts to enhance business regulation will focus on eliminating nominee usage, integrating agency efforts, and enforcing laws to ensure fairness and inspire confidence in the Thai economy.