Thailand devises policies to push economic development
The Commerce Ministry of Thailand will push three policies to resolve the low price of five agricultural goods, increase cross-border exports and register geographical indication products for sale on e-commerce markets.
Illustrative image: (Source: forum.thaivisa.com)Bangkok (VNA) - The Commerce Ministry of Thailand will push three policies to resolve the low price of five agricultural goods, increase cross-border exports and register geographical indication products for sale on e-commerce markets.
Thai Deputy Commerce Minister Sansern Samalapa said the first policy aims to promote five key products – rice, rubber, tapioca, coconut and corn, thus increasing the purchasing power.
The ministry is also planning to upgrade 400,000 local grocery stores nationwide with smart features to drive the retail business in communities and stimulate the economy, he added.
The second policies is to stimulate macroeconomics to increase the revenue of entrepreneurs and distribution of funds using three export strategies of expanding existing markets, opening new markets and recovering lost markets.
Deputy Minister Sansern said this policy will include increasing exports across the borders, which is currently worth 9 percent of Thailand’s total international trade.
Meanwhile, the third policy will push the business sector to keep up with new economies such as bio economy, green economy and creative economy.
This includes moving forward with e-commerce and registration of intellectual properties, especially geographical indication items to increase the value of products, making Thailand the centre of new economies in the region, he said.
According to Sansern, the ministry is working to finalise negotiations on free trade agreements with existing partners, as well as the Regional Comprehensive Economic Partnership (RCEP). The country plans to close these pending deals before the year-end./.
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