Bangkok: The Thai Chamber of Commerce has proposed that the government manage the baht exchange rate at an appropriate level, fearing it could negatively impact exports. The recommendation aims to maintain the competitiveness of Thai exporters amidst regional currency fluctuations.

According to Thai News Agency, the Thai Chamber of Commerce (TCC) has urged the government and the Bank of Thailand to ensure the stability of the Thai baht, aligning it with regional currency trends to protect the nation's export competitiveness. Dr. Ongart Kittikunchai, a member of the Thai National Shippers Council (TNSC), highlighted the need for the new government to address the strong baht issue. He emphasized that while the Bank of Thailand (BOT) adheres to international frameworks, competitors like Vietnam are witnessing a depreciation of their dong, enhancing their price competitiveness and surpassing Thailand in certain product categories.

Dr. Ongart noted that exports are a significant contributor to Thailand's GDP, accounting for over 50%, and this figure is even higher when including the tourism sector. He explained that a stronger baht compared to competing currencies presents challenges in price competitiveness, resulting in a loss of market share for Thailand.

The TCC stressed the importance of adhering to international rules while also urging the new government to signal relevant agencies to ensure fair competition for Thai exporters within the legal and international regulatory framework. The Chamber acknowledged the need to respect market mechanisms but cautioned against allowing the baht to appreciate excessively, which could negatively impact the economy, particularly the manufacturing and export sectors that drive the country's growth.