Bangkok: Exports in Thailand have surged to unprecedented levels, reaching a historical high, yet small and medium-sized enterprises (SMEs) have not fully benefited from this growth. Two urgent measures have been proposed to bolster Thai businesses as they navigate the complexities of Trump's trade policies.
According to Thai News Agency, Associate Professor Dr. Jutathip Chongvanich from Thammasat University's Center for Competitiveness and Development Research highlighted the need for government intervention in two critical areas: human resource development and fostering connections between Thai entrepreneurs and new foreign investors. Despite the thriving export sector, which saw a 24.4% increase in January 2026, SMEs remain on the periphery of these economic gains due to a lack of direct export involvement.
Dr. Chongvanich emphasized the importance of creating a robust link between entrepreneurs and investors to ensure SMEs can integrate into global supply chains effectively. He recommended a two-pronged approach: enhancing education and skill development to prepare the workforce for future industries and implementing strategic tax and non-tax incentives to attract multinational corporations to leverage Thai labor and resources.
On the international front, Dr. Chongvanich addressed concerns about potential US trade measures under sections of the US Trade Act that could impact Thailand. He suggested that these measures might take time to materialize, allowing the Thai government to adopt a gradual negotiation strategy. This approach could extend into the US midterm elections, providing Thailand with a clearer understanding of American trade policies.
The Thai government is advised to diversify its market outreach, particularly for agricultural products, while pursuing free trade agreements. Collaboration between the Ministry of Commerce, Ministry of Agriculture and Cooperatives, and the Ministry of Industry is crucial to enhance product quality and competitiveness, leveraging technology and trade mechanisms.