Thailand is a key link in the global economic chain, Finance Minister Pichai Chunhavajira told the US Chamber of Commerce in Washington, DC, where he is leading a Thai delegation in crucial trade negotiations.
The group’s first activity in the US capital on Tuesday was a meeting with the chamber, represented by Charles Freeman, senior vice-president for Asia, along with other representatives from leading US companies that have investments and operations in Thailand.
According to Mr Pichai, the meeting was an important opportunity to exchange information, opinions and recommendations, particularly on trade and investment issues pertaining to US tariff policies.
Discussions also addressed ways to resolve challenges and obstacles faced by the business sector, with the goal of making Thailand a more attractive investment destination.
“I told them Thailand remains fully committed to trade negotiations with the US, aiming for agreements that are a win-win for all parties,” Mr Pichai said.
“I also thanked the US chamber for its continued support, both as a platform for dialogue and a communicator to the US government regarding Thailand’s importance in the global economic supply chain.
“I reassured our private sector partners the Thai government will continue advancing policies that promote trade and investment, while maintaining a transparent, business-friendly and predictable environment.”
According to Mr Pichai, Thailand and the US share a common goal: a mutually beneficial economic partnership.
He said he feels confident based on mutual understanding and trust that the two countries can drive sustainable growth in economic relations.
Ahead of his trip to the US, Mr Pichai expressed his optimism that trade negotiations would result in a mutually beneficial agreement.
He acknowledged that efforts to reduce planned 36% US tariffs on Thai goods are approaching a critical stage, with the July 8 deadline just days away.
Nalinee Taveesin, president of the Thailand Trade Representatives, said there had been positive progress in the tariff negotiations.
Regarding the possibility of extending the negotiation period, she said this would depend on the US. The US found Thailand’s proposal interesting, she said, because the country was committed to a win-win approach in the talks.
No US companies investing in Thailand have expressed concerns regarding the higher tariffs on Thai products, as all countries will encounter similar challenges even if the tariff rates differ, said Ms Nalinee.
“The majority of investors retain confident in the potential of the Thai economy and believe it has capacity for growth,” she said.