Commerce Ministry sets 50% growth target for cross-border trade next year

The Kingdom’s cross-border commerce is expected to come in at about Bt1 trillion this year.
Permanent secretary Chutima Bunyapraphasara yesterday said that with strong economic growth in neighbouring countries, cross-border trading would play a key role in driving Thailand’s overall trade performance.
“The ministry has set a challenging target of Bt1.5 trillion as it wants to encourage all involved to work hard to support border trading,” she said.
To help achieve the goal, the ministry will move some service offices from muang districts to cross-border districts.
It will also set up a joint committee in border provinces to find ways to facilitate cross-border traders and solve related problems.
Thailand will also collaborate with each neighbouring country to organise trade fairs between both sides, she added.
Meanwhile, after meeting with provincial trade officials nationwide, Commerce Minister General Chatchai Sarikulya yesterday said the ministry would continue to release rice if it considered that its release measures to date were not affecting the market price during the upcoming harvest season.
Other methods for selling stockpiled rice include doing so through the futures market, direct sales to rice traders, and government-to-government contracts, with the ministry currently negotiating to sell big lots under the last of these methods, he said.
Moreover, the minister urged provincial officials to draw up plans for the promotion of local economic growth and stable crop prices in each area, as well as controlling the local cost of living.
He assigned provincial officials to adopt and promote sufficiency economy for local enterprises and consumers.
Chutima, meanwhile, said the ministry would present a “New Year Gift” package for consumers nationwide from December 15 through early January, to stimulate spending and reduce costs for consumers and enterprises. Under the populist package, the ministry will call for manufacturers and traders to give discounts during the New Year period.
The ministry will also ask that the prices of popular brand-name goods be reduced as a gift for consumers.
Moreover, it will reduce service fees for enterprises, extend operating hours before the New Year period, and organise free training programmes for enterprises on trade-related issues.
To help ensure good prices for Thai rice during the upcoming harvest season, Chutima said the ministry would also extend the loan-repayment period for rice farmers so that they have more financial liquidity. This would enable them to sell their produce less urgently than would otherwise be the case.
The ministry will also encourage millers to purchase rice at Bt100-Bt200 per tonne above market prices.