New Commerce Ministry panel to help address problem of export slump
Commerce Minister Jurin Laksanawisit, who is also a deputy prime minister, has instructed the ministry’s permanent secretary, Boonyarit Kalayanamit, to establish a Joint Committee on Public and Private Affairs.
Jurin cited the worrying decline in exports as a reason for this move, saying the new committee will comprise of several associations, such as the Chambers of Commerce and Board of Trade of Thailand, the Federation of Thai Industries, the Thai Bankers’ Association and the National Shippers’ Council of Thailand.
He added that this committee will act as a forum for the exchange of ideas and suggestions to tackle the problem of dampening exports.
“The Commerce Ministry plans to hold a meeting with the committee every month, with the first one to be held next week,” the minister said.
At the meeting, private sector representatives will be able to voice their problems and offer potential solutions to the trade officials. This will allow the ministry to implement measures to address problems faced by Thai exporters, coordinate with other ministers or submit their requests to the Cabinet.
Thai exports have been dropping due to the US-China trade war, global slowdown and the appreciation of the baht. Furthermore, increasing the minimum daily wage to Bt400, as proposed by the Phalang Pracharat Party, will also adversely affect small and medium enterprises who rely on exports.
The Commerce Ministry has set the year-on-year growth target for exports this year at 3 per cent.
Income guarantee for farmers will be another measure to help the agriculture sector, Jurin said, adding that income will be guaranteed for maize, cassava, palm-oil and rubber growers.
“Guaranteeing income for farmers will help boost their income, because the government will compensate farmers who make less than the amount insured by the state. For instance, if the price for rubber is set at Bt60 per kilogram and the farmer is only able to sell it at Bt50 per kg, then the government will pay the difference,” Jurin added.
