Commerce Minister Phumtham Wechayachai has committed to implementing seven core policies within his first 100 days in office, while vowing the government will not offer any guarantee programmes for crop prices.
Speaking after meeting with senior ministry officials, including commercial counsellors from 56 countries and provincial commerce officials, Mr Phumtham said on Thursday he outlined policies in seven key areas to promote collaborative efforts, with a focus on prioritising public welfare.
These policies include reducing expenses, increasing income and expanding opportunities for the public while supporting small and medium-sized enterprises (SMEs); ensuring a balance between consumers, agricultural producers and business operators, allowing them to sustain their livelihoods and businesses; and implementing collaborative efforts with provincial commerce offices and commercial counsellors, enhancing the export capability of SMEs.
Other policies comprise: addressing legal barriers to trade to create a system conducive to business development; promoting a digital wallet policy to stimulate the economy that is convenient in remote areas with limited access to digital wallets; accelerating exports by leveraging Thailand's soft power and creating compelling stories for Thai products and services; and maximising the benefits of free trade agreements and fostering new economic development in the country.
According to Mr Phumtham, the government plans to establish a matching fund through public-private partnerships to invest in high-potential startups on a global scale, strengthening new businesses.
In addition, he said essential consumer goods manufacturers would be invited next week to the ministry to discuss price reduction strategies.
Preliminary instructions were distributed to the Internal Trade Department to analyse the cost structure of essential consumer goods and find ways to reduce the cost of living after electricity and diesel prices are cut this month, said Mr Phumtham.
The goal is to decrease consumer goods prices starting in October, with significant reductions by the end of 2023 as a New Year's gift, he said.
The Internal Trade Department was also ordered to prepare networks and channels for digital wallets, such as mobile grocery stores, as well as to coordinate with the Agriculture and Cooperatives Ministry to reduce agricultural production costs, easing the burden on farmers and increasing their income, said Mr Phumtham.
For tasks such as trade negotiations, exports and business sector support, all relevant departments are required to plan and discuss within the next few weeks to provide guidance for future actions, with the aim of stimulating exports in the final quarter, he said.
From Sept 16-18, Mr Phumtham is scheduled to travel to Nanning, China to participate in the 20th China-Asean Expo.
During this event, he is expected to hold discussions with Chinese premier Li Qiang to strengthen relations and address trade-related issues between the two countries.
Deputy Commerce Minister Napintorn Srisunpang said the ministry instructed the Internal Trade Department to complete an analysis of the cost structure of consumer goods essential for people's livelihood within 15 days.
The ministry expects to announce by the beginning of October a list of products targeted for price reductions.
Regarding crop support policies, Mr Napintorn confirmed there were no definite pledging schemes for agricultural products, with supportive policies utilised instead.
For example, he said special measures will be taken to manage a glut of agricultural products effectively to prevent a decline in prices.