Plan to help firms tackle trade barriers

The International Institute for Trade and Development is preparing to present an action plan with policy recommendations to cope with changes in global trade regulations and industry supply chains.
The institute expects to present the plan to the Commerce Ministry, Thai Chamber of Commerce and the Federation of Thai Industries in November.
Suphakit Chareonkul, executive director of the group, said recent global challenges, such as swift changes in trade and investment regulations, particularly in labour and environmental standards, rapid technological changes, and prolonged geopolitical conflicts, are affecting trade relations among countries, including Thailand.
These developments have changed production patterns, and have consequently complicated export policy to a greater extent.
Moreover, Thailand has been facing unprecedented challenges that need to be addressed which include rising production costs, a labour shortage, outdated trade and investment rules, and discontinuity of policies to drive various industries.
The institute is a regional knowledge management organisation that aims to enhance international trade potential and narrow development disparities for countries in the region.
To achieve these goals, it launched the Leadership Program on Trade and Development Strategy to equip government and private-sector leaders with the skills and knowledge needed to drive the growth of four key industries: tourism, agriculture and food, automotive, and logistics and energy.
A total of 81 carefully selected executives from both the public and private sectors participated in the intensive three-month programme, concluding on Nov 29.
The participants, representing a diverse range of industries, were tasked with developing innovative policy recommendations to propel these sectors forward.
The goal of the programme is to foster collaboration between the government and private sector and generate novel policy proposals that can be implemented as practical action plans. These proposals will be presented to relevant policymakers to drive further development in the selected industries.
Mr Suphakit emphasised the importance of these industries in Thailand’s economic development.
He said that while tourism is currently a major driver of GDP, the agriculture and food sector offers significant growth potential, particularly in the area of future foods.
The automotive industry, with a focus on electric vehicles, and logistics, are also seen as promising sectors for Thailand.
The institute plans to offer a second edition of the course in 2025, focusing on issues related to government policies, trade, development, and soft power.
In a related development, the organisation launched the Trade Intelligence Center to support micro, small and medium-sized enterprises (MSMEs) in the food, energy and technology sectors in adjusting to global industrial trends.
Mr Suphakit said energy development should focus on green or renewable energy, while the logistics sector should reduce carbon dioxide emissions and move towards alternative energy such as hydrogen, of which MSMEs must be aware and adapt.
He added that the government should help MSMEs access financial support to enhance their technology, innovation, and protection of intellectual property.