Deputy Prime Minister and Finance Minister Pichai Chunhavajira on Monday convened an urgent meeting with relevant public and private sector agencies to assess the economic impacts and prepare measures to cope with the escalating tensions between Thailand and Cambodia.
Speaking after the meeting, Mr Pichai said although the situation is currently under control, as the official overseeing the overall economy, it is necessary to be thoroughly and swiftly prepared for all possible scenarios.
According to Mr Pichai, Monday's meeting had two main objectives: (1) to assess the economic impact on Thailand, including cross-border trade, manufacturing sectors that rely on raw materials from Cambodia, financial institutions with business interests in Cambodia, and service sectors such as airlines, telecommunications and energy; and (2) to plan mitigating measures, such as soft loans, tax measures, logistics support and stimulus initiatives for border provinces.
The government is open to receiving proposals from both public and private sectors.
He emphasised that Monday's emergency meeting was purely a preparatory measure from an economic standpoint and should not be interpreted as a hostile signal.
"Thailand remains committed to peaceful solutions and constructive coexistence with its neighbours," he said.
Regarding Cambodian labourers employed in Thailand, he said the government has made it clear that it does not wish for them to return to Cambodia unnecessarily.
"We value these workers' contributions to Thailand's economy and will take the best possible care of them," he said, while thanking all parties who participated in the meeting.
He reiterated that the government would work closely with the private sector in a careful yet decisive manner to maintain economic stability during this critical period.
Commerce Minister Pichai Naripthaphan said due to the unrest along the Cambodian border, some trade checkpoints had been closed, notably the permanent border checkpoints of Ban Phakkad and Ban Laem in Chanthaburi province, slowing the distribution of fruits from eastern provinces to neighbouring countries.
Although local trade in the area is still proceeding as usual, in order to prevent any negative impact on farmers, the Commerce Ministry has tasked the Department of Internal Trade (DIT) with conducting an on-site inspection and closely monitoring the situation as well as promptly expediting the distribution of agricultural produce within the country.
Wittayakorn Maneenetr, director-general of the DIT, said the deputy prime minister had also invited senior executives from 40 SET 50-listed companies to discuss support for farmers and efforts to facilitate connections for distributing fruits and agricultural goods.
Participants included representatives from hospitals, banks, real estate, energy, insurance and wholesale-retail groups who would help absorb the remaining produce from the eastern region.
In addition, a long-term collaboration plan is being developed to purchase fruits from the southern region, including durian, rambutan and mangosteen, along with longan, lychee, oranges and pineapples from the north, which are about to enter the market.
The initiative would handle a mixed batch of fruits totalling 6 million kilogrammes, with an estimated value of over 240 million baht, over the course of one year. This is the largest lot to date, involving cooperation from publicly listed companies, he said.