Bangkok: Thailand's commerce ministry has introduced six strategic measures to mitigate potential economic repercussions from the rising tensions in the Middle East. These measures include stringent monitoring of consumer prices and supply chains to ensure economic stability.

According to Thai News Agency, the initiative follows a high-level meeting chaired by Prime Minister Anutin Charnvirakul. The Prime Minister has directed government agencies to work closely with the private sector to safeguard the economy amidst the ongoing global geopolitical uncertainties.

Commerce Minister Suphajee Suthampun emphasized the importance of maintaining stability in domestic goods and services to avoid price gouging during this period of crisis. The ministry's approach involves integrated efforts to shield the Thai economy and trade from the volatile fluctuations arising from the situation.

The ministry's strategy focuses on strict price controls and continuous monitoring carried out by the Department of Internal Trade. This aims to curb price gouging and emphasizes diversifying sources to secure raw materials from regions outside the conflict zones. To enhance trade resilience, the government is offering cost-management support to exporters and coordinating with shipping lines to ensure the supply chain remains uninterrupted.

Commercial attach©s have been given the responsibility of providing real-time market intelligence and assessing importer confidence. These measures are underpinned by ongoing analysis of inflationary impacts, which enables swift policy responses to maintain national price stability.

The Middle East is a crucial area for global energy markets and serves as a key destination for Thai exports, particularly in food and manufactured goods.