Bangkok: Supajee Suthamphan, the Minister of Commerce, has underscored the significance of in-depth information as fundamental to trade strategy in shaping economic and trade policies amid global uncertainty.
According to Thai News Agency, the Trade Policy and Strategy Office (TPSO) has introduced a model to systematically connect economic structures to enhance Thailand's strategic competitiveness globally.
Commerce Minister Supajee Suthamphan emphasized that the development of national trade strategies and economic policies necessitates accurate, timely, precise, and reliable in-depth information. This is particularly vital in the fast-evolving and intricate global environment, where geopolitics and geoeconomics are intertwined with security and trade matters.
During the Trade Talk seminar marking the 11th anniversary of the TPSO, themed "Thai Economy 2026: Restructuring and Planning an Inclusive Future," Ms. Supajee noted that modern trade competition extends beyond sales figures. It involves a profound comprehension of the global context, supply chains, and Thailand's position within the global economic framework. This understanding is crucial for making informed policy decisions and mitigating long-term risks.
The Minister further asserted that quality data not only identifies economic opportunities but also establishes a foundation of trust essential for global trade. This trust is crucial in both governmental policy-making and private sector investment decisions. The TPSO serves as a transparent and reliable trade data repository, providing a strategic tool for the nation.
Mr. Nantapong Chiraleartpong, Director of TPSO, and Ms. Nattiya Suchinda, Deputy Director of TPSO, highlighted an overview of the Thai economy. Despite improvements in macroeconomic indicators such as low inflation and record-high export growth, issues persist, including high living costs, unstable incomes, and fragile purchasing power. These challenges reflect structural problems that necessitate systemic solutions.
In the seminar, TPSO introduced an economic analysis model linking macroeconomic trends, domestic and international trade, and key risk factors like geopolitical situations, currency value, energy prices, and competition from imports. The objective was to demonstrate that Thailand's economic structure lacks connections between prices, income, and economic opportunities for the populace.
TPSO revealed that while Thailand's exports have surged, the trade benefits remain concentrated among large exporters, with SMEs struggling to survive and contributing minimally to export value. They proposed the concept of Harmonizing Trade to restructure trade, creating synergy between large and small businesses by balancing product structures, generating opportunities for SMEs, and distributing trade benefits across all regions.
Additionally, TPSO suggested upgrading the agricultural and service sectors by leveraging data, technology, and artificial intelligence for policy formulation. This approach aims to ensure that economic growth translates into improved quality of life for the people. TPSO reaffirmed its role in supporting the development of Thailand's trade strategies, preparing the nation for sustainable global competition.