Post by account_disabled on Jan 2, 2024 3:38:16 GMT
War Room Working Group Discuss plans to deal with trade diversion. Ready to plan strategies to fight trade war-Brexit The War Room Working Group discussed preparations to deal with trade diversion. Proposing to restructure the country Take the opportunity from the strong baht to import raw materials to produce products with potential for export. Accelerate the attraction of investment in technology and innovation industries. Push Thailand to use Thai products Help drive the economy instead of relying mainly on exports. and speed up negotiations on the Thai-EU FTA. As for the trade war response plan Aiming to push product exports to the United States and China raises taxes and preparing to build relations with the EU and England after Brexit Mr. Bunyarit Kalayanamit, Permanent Secretary of the Ministry of Commerce Revealing the results of the War Room Working Group meeting Collaborate with government and private agencies To prepare for dealing with the trade war between the United States and China and the withdrawal of England from the European Union (Brexit), the meeting has considered ways to deal with trade diversion. They agreed that there must be a restructuring of the country. By using the opportunity from the strong baht to import cheap raw materials to produce products. and adjust internal regulations to facilitate imports This will make Thailand have more potential products for export.
“In terms of exports agree that The baht is very strong. It has an impact on exports. It was impossible to intervene. Because Thailand is a country that does not intervene in the value of its currency. which the Bank of Thailand (BoT) is taking care of But the strong baht It is an opportunity for Thailand to adjust its portfolio to a new country. Let's look at imports. and take advantage of imports Don't be afraid that importing too much will not be good.” As for investment, it is seen that Thailand must speed up attracting more direct investment. Because of the results of the trade war This has led to the relocation of production bases from China to many other countries. Thailand must have policies and measures to attract investment that are conducive to investment. Especially investing WhatsApp Number List in industries that use technology and innovation. which the Board of Trade and Investment (BOI) and the Eastern Economic Corridor Committee (EEC) are working on But it will not focus on attracting investment in labor-intensive industries. In addition, the meeting agreed to promote the use of Thai products. Products produced in Thailand In order to promote Thai business and help drive the economy in the country It is not necessary to rely only on exports. Because at present Thailand's GDP Highly dependent on exports However, Thailand must speed up the negotiation of the Free Trade Agreement (FTA), especially Thailand-European Union (EU), which is currently being prepared. and will definitely move forward Because if Thailand doesn't do it will be at a disadvantage to competing countries At present there is an FTA with the EU.
still need to hasten to complete the FTA negotiations that are currently pending including the Regional Economic Partnership Agreement (RCEP), Thailand-Turkey, Thailand-Sri Lanka, and Thailand-Pakistan. Reporters reported that For the export response plan In case of trade war will accelerate the export of products that each side has increased tariffs on Products that have the opportunity to be exported to the United States include car tires, refrigerators, and rice. Exports to China include cosmetics, prepared foods for infants and young children. and secondary markets in China, such as cassava flour, durian, and other fruits As for products that need to be prepared to find new markets to replace China, such as cassava, synthetic rubber, natural rubber, and to replace the US market, such as telephone sets. Storage unit of automatic data processing machine and telephone components and products that need to be restructured and attract investment such as processors and controllers for integrated circuits used in electronics, laptops, notebooks, medicines, scientific equipment. medical equipment, etc. As for dealing with Brexit We must accelerate and strengthen trade relations with the EU and the UK. Accelerate exports to the UK by taking advantage of reduced temporary tariffs.
“In terms of exports agree that The baht is very strong. It has an impact on exports. It was impossible to intervene. Because Thailand is a country that does not intervene in the value of its currency. which the Bank of Thailand (BoT) is taking care of But the strong baht It is an opportunity for Thailand to adjust its portfolio to a new country. Let's look at imports. and take advantage of imports Don't be afraid that importing too much will not be good.” As for investment, it is seen that Thailand must speed up attracting more direct investment. Because of the results of the trade war This has led to the relocation of production bases from China to many other countries. Thailand must have policies and measures to attract investment that are conducive to investment. Especially investing WhatsApp Number List in industries that use technology and innovation. which the Board of Trade and Investment (BOI) and the Eastern Economic Corridor Committee (EEC) are working on But it will not focus on attracting investment in labor-intensive industries. In addition, the meeting agreed to promote the use of Thai products. Products produced in Thailand In order to promote Thai business and help drive the economy in the country It is not necessary to rely only on exports. Because at present Thailand's GDP Highly dependent on exports However, Thailand must speed up the negotiation of the Free Trade Agreement (FTA), especially Thailand-European Union (EU), which is currently being prepared. and will definitely move forward Because if Thailand doesn't do it will be at a disadvantage to competing countries At present there is an FTA with the EU.
still need to hasten to complete the FTA negotiations that are currently pending including the Regional Economic Partnership Agreement (RCEP), Thailand-Turkey, Thailand-Sri Lanka, and Thailand-Pakistan. Reporters reported that For the export response plan In case of trade war will accelerate the export of products that each side has increased tariffs on Products that have the opportunity to be exported to the United States include car tires, refrigerators, and rice. Exports to China include cosmetics, prepared foods for infants and young children. and secondary markets in China, such as cassava flour, durian, and other fruits As for products that need to be prepared to find new markets to replace China, such as cassava, synthetic rubber, natural rubber, and to replace the US market, such as telephone sets. Storage unit of automatic data processing machine and telephone components and products that need to be restructured and attract investment such as processors and controllers for integrated circuits used in electronics, laptops, notebooks, medicines, scientific equipment. medical equipment, etc. As for dealing with Brexit We must accelerate and strengthen trade relations with the EU and the UK. Accelerate exports to the UK by taking advantage of reduced temporary tariffs.