Bangkok: The Thai Chamber of Commerce has expressed strong support for the inclusion of Thai products with high local content on the US tariff-exempt list, aligning with the government's initiative to conclude the Trade Agreement (ART) with the United States. This move is seen as a strategic effort to enhance trade clarity, reduce business uncertainties, and bolster the competitiveness of Thai goods, particularly in sectors like agriculture, food, fisheries, and pet food.
According to Thai News Agency, Dr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and the Federation of Thai Chambers of Commerce, highlighted the importance of a clear trade framework to reduce business uncertainties. He underscored that the expedited conclusion of the Agreements on Reciprocal Trade (ART) between Thailand and the United States, led by Deputy Prime Minister and Minister of Commerce Supajee Suthamphan and Team Thailand, would enable entrepreneurs to plan production, investments, and exports with greater confidence. The inclusion of Thai goods in the US market's tariff-exempt list would ensure their competitiveness against rival countries.
The private sector supports the government's strategy to prioritize the promotion of high local content Thai products by increasing tax exemptions. These products, which utilize domestic raw materials and add value through Thai production processes, are seen as crucial for broadly benefiting the Thai economy.
The Thai Chamber of Commerce emphasizes the importance of including agricultural products, food, agro-industry, fishery products, and pet food in the Exemption List. These sectors are key strengths of Thailand, closely linked to farmers, SMEs, and processing industries. By incorporating these products, the competitiveness of Thai goods will be maintained, directly benefiting farmers, entrepreneurs, and a significant portion of the population, thus bolstering the grassroots economy.
Furthermore, the focus on Thai products with high local content is expected to preserve added value within the country, support employment, and strengthen domestic supply chains. This aligns with the global economic trend towards establishing regional value chains.
Dr. Poj emphasized that negotiations should prioritize maximizing benefits for Thailand by focusing on value-added goods produced domestically that significantly impact the grassroots economy. Additionally, promoting key Thai export products that the US does not produce in sufficient quantities for inclusion in the tariff-exempt list would help reduce uncertainties, maintain the competitiveness of Thai exporters, and ensure tangible benefits for Thai farmers, entrepreneurs, and the general public. This approach would also provide advantages to US consumers by mitigating the risk of rising living costs.