Bangkok: The Minister of Commerce, Ms. Suphajee Suthumpun, underscored the Ministry’s unwavering commitment to achieving economic stability while ensuring fairness across all sectors, during her address at the 2nd Policy Talk event organized by Chulalongkorn University.
According to Thai News Agency, Ms. Suphajee, who was the special speaker at the event, emphasized the Ministry’s role in overseeing domestic trade, international trade, and agricultural product prices. She highlighted the importance of maintaining a balance where both consumers and producers find fairness, stating that policy formulation must be based on comprehensive data and stakeholder engagement to yield tangible outcomes.
The Minister introduced seven Quick Big Win policies aligned with the Cabinet’s economic framework to drive Thailand’s economy forward. These policies include negotiating a double tax agreement with the United States, boosting Thai-Cambodian border trade, accelerating market expansion, and promoting free trade agreements. Additionally, the policies aim to stabilize agricultural prices, support SME entrepreneurs, improve regulations, and integrate AI technology to enhance efficiency.
Ms. Suphajee also outlined short-term strategies to manage commodity prices and assist farmers, such as the “Green Flag” fertilizer cost reduction program and financial aid for rice farmers. The Ministry is also addressing the cassava epidemic by restructuring production to match market demand and promoting community rice mills to generate sustainable income.
Furthermore, the Ministry is organizing the “Blue Flag Border” fair to showcase products from seven border provinces and collaborating with Thailand Post to find new markets for border goods. The “Healthy Body, Comfortable Wallet” project, in partnership with private hospitals and pharmacies, aims to reduce medicine costs significantly, saving citizens over 32 billion baht annually.
To bolster SMEs and franchises, the Ministry collaborates with the Department of International Trade Promotion and the Ministry of Industry to enhance business skills and support funding sources. With 48 Thai franchise brands exported to over 30 countries, the Ministry’s efforts are poised to stimulate the economy rapidly.
In international trade, Ms. Suphajee emphasized investing for the future by fostering balanced partnerships and leveraging Thailand’s strategic location to become a regional logistics and trade hub. She highlighted Thailand’s role in the ASEAN Digital Economy Framework Agreement negotiations, which is expected to drive ASEAN’s economic growth.
The Minister concluded by stressing the establishment of food security as a pivotal strategy for enhancing Thailand’s agricultural trade, citing a recent government-to-government rice sale agreement with Singapore as a testament to Thailand’s evolving role as a food security provider.
Ms. Suphajee remarked on the importance of being open-minded and understanding organizational contexts to enhance work and organizational development, whether in private or government sectors.