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Thailand’s Ministry of Commerce Ordered to Stimulate the Economy at Grassroots Level

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BANGKOK – Thailand’s Deputy Prime Minister Somkid Jatusripitak has ordered the Ministry of Commerce to stimulate the national economy particularly regarding grassroots level to cope with the costs of living and farm goods prices in the face of the volatile global economy.

The deputy premier held a meeting with high-level officials of the Ministry of Commerce and concluded that the current government will continue to work for at least a few more months until a new government has been set up. The government will raise the confidence of the country’s economy by keeping the prices of consumer products from rising and keeping the prices of farm goods at appropriate levels.

The fact that some 40 million tourists visit major and secondary destinations throughout the country in a year can create the expansion of markets of goods and services for the visitors, given the conveniences of online systems, the deputy premier commented.

The Ministry of Commerce has targeted the country’s export sector to reach an 8% growth though the private sector has trimmed it down, particularly regarding the new export markets for which promotional measures will be accelerated. Thai products may be put on sale at major destinations in effort to optimally access the tourists, he said.

The Ministry of Commerce will push for planned trade negotiations with varied trade partner countries, particularly the ASEAN+6 Free Trade Agreement and the Regional Comprehensive Economic Partneship which is yet to be concluded within this year. However, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership issue is yet to be considered by the new government.

By Tarin Angskul