Commerce Ministry asks firms to hold prices as four economic strategies advance

Thailand's Ministry of Commerce has asked businesses to consider maintaining product prices despite rising production costs, as it strengthens cooperation with the Thai Chamber of Commerce on four economic strategies aimed at improving competitiveness, expanding opportunities for smaller businesses and supporting international trade.

Permanent Secretary for Commerce Poonpong Naiyanapakorn led senior ministry officials in discussions with representatives of the Thai Chamber of Commerce and the Board of Trade of Thailand, headed by chairman Poj Aramwattananont.

The meeting, held at the Board of Trade of Thailand, focused on strengthening public-private cooperation to help the Thai economy respond to global economic uncertainty and changing international trade conditions.

Poonpong explained that the discussions were intended to strengthen relations between the chamber and the ministry's new management team while advancing cooperation under four previously established economic priorities.

Four strategies to strengthen Thailand's economy

The first strategy, competitiveness, focuses on developing a higher-value economy and improving the capabilities of Thai businesses to compete in domestic and international markets.

The second, security and stability, aims to strengthen agricultural production, maintain stable agricultural prices and encourage value-added processing. It also seeks to position Thailand as an important contributor to global food security.

The third strategy, inclusion, prioritises bringing small businesses, community enterprises and small and medium-sized enterprises (SMEs) into larger supply chains while strengthening economic security through border trade.

The fourth, modernisation, involves improving government regulations and administrative procedures to make them more transparent, efficient and convenient for businesses, creating conditions that support trade and investment.

Poonpong noted that the ministry and the chamber had regularly exchanged information to develop measures addressing geopolitical uncertainty and volatility in the global economy.

Their cooperation covers tariff negotiations with the United States aimed at securing the greatest possible benefits for Thailand, alongside efforts to accelerate important free trade agreement (FTA) negotiations.

These include Thailand's negotiations with the European Union, which are expected to reach a conclusion soon, and the proposed Thailand–United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).

Both organisations are also working to prepare Thai businesses for new international trade regulations.

Domestically, cooperation has focused on strengthening food security, supporting economic stability and maintaining agricultural price stability while distributing economic opportunities more widely.

Particular attention has been given to upgrading SMEs and community enterprises, as well as encouraging the commercial use of intellectual property.

Ministry requests cooperation on product prices

Poonpong also asked private-sector businesses to consider holding product prices amid economic uncertainty and the prospect of higher production costs.

Where price increases are necessary, he urged operators to ensure that adjustments reflect actual changes in their cost structures.

The objective is to maintain a balance between producers and consumers while minimising the economic impact on both groups.

The ministry and the chamber have also continued their partnership in organising THAIFEX – Anuga Asia, an international food and beverage trade exhibition.

According to Poonpong, the event generates more than THB100 billion annually for Thai businesses and attracts over 150,000 visitors.

The next exhibition is scheduled for 25–29 May 2027 at IMPACT Exhibition and Convention Centre, with plans to expand the exhibition area to its largest size yet.

Trade barriers and logistics challenges discussed

Poj outlined several trade-related obstacles that the chamber and the Commerce Ministry had discussed addressing together.

These include trade barriers associated with the use of halal certification marks, as well as Vietnam's anti-dumping measures affecting Thailand's wood-based panel industry.

The discussions also covered difficulties obtaining import licences in Myanmar and preparations for the use of artificial intelligence (AI) in fruit inspections at China's Youyiguan border checkpoint.

Another proposal involves facilitating container transshipment at Laem Chabang Port through a trial arrangement known as the Transshipment Sandbox.

The discussions highlighted the need for closer coordination between the public and private sectors to resolve obstacles that affect Thai businesses' access to overseas markets.

Chinese premier's visit to strengthen business ties

Another important area of cooperation involves the upcoming official visit to Thailand by Chinese Premier Li Qiang on 13–14 November 2026.

A parallel event, the China–Thailand Business Leaders Exchange Events, is planned to strengthen relations between the two countries at government and private-sector levels.

The event is intended to provide a networking platform for leading Thai and Chinese business representatives, supporting closer commercial ties and future business opportunities.

Poj noted that China is currently Thailand's second-largest export market after the United States, underscoring the importance of strengthening economic relations between the two countries.

Poonpong added that he had instructed the relevant departments under the Commerce Ministry to accelerate efforts to address the issues raised and reduce their impact on private-sector businesses.

Both organisations reaffirmed their commitment to maintaining close cooperation to support Thai entrepreneurs, strengthen the country's economic competitiveness and promote sustainable economic growth.