Commerce Ministry introduces policies to help farmers, small retail businesses, exports

[webfact]

Commerce Ministry introduces policies to help farmers, small retail businesses, exports

By The Nation

 

 

The Commerce Ministry will push three policies to resolve the low prices of five agricultural goods, increase exports across borders and register geographical indication products for sale on e-commerce markets, Deputy Commerce Minister Sansern Samalapa said on Tuesday.

 

“The first policy the ministry will focus on is to fix the economy from bottom to top,” he said. “By promoting five key products – rice, rubber, tapioca, coconut and corn – we can help increase the purchasing power of farmers, who form the majority of Thai citizens. We are 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 policy is to stimulate macroeconomics to increase the revenue of entrepreneurs and distribution of funds using three export strategies: expand existing markets, open new markets and recover lost markets.

 

“This policy will include increasing exports across the borders, which is currently worth 9 per cent of our total international trade. The Commerce Ministry has already proceeded with this policy in the South and Northeast and is planning to expand this to cover other areas soon,” Sansern said.

 

“The third policy is to push the business sector to keep up with new economies such as a bio economy, green economy and creative economy,” he said. “This includes moving forward with e-commerce and registration of intellectual properties, especially geographical indication items to increase the value of our products, making Thailand the centre of new economies in the region.”

 

Sansern said another urgent issue that the ministry is working on is to finalise negotiations on free trade agreements with existing partners, as well as the Regional Comprehensive Economic Partnership.

 

“We are planning to close these pending deals before the year-end,” he said. “After that, the ministry will seek pacts with other countries including the European Union, England, Pakistan and Turkey.”

 

Source: https://www.nationthailand.com/news/30376649

 

-- © Copyright The Nation Thailand 2019-09-24

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[taichiplanet]

or you can find a way to lower the Baht

[Oziex1]

I sometimes wonder if the Thai economy helps anyone but those at the top. Then again same everywhere.

[jerojero]

Fix economy top to bottom. Right. Easy peasy, let's getter done! Start fixin.

[BigBadGeordie]

He has announced it, it will therefore happen.

Job done.

Now for dinner.

And relax.

Sorted.

[RichardColeman]

16 hours ago, webfact said:

“The first policy the ministry will focus on is to fix the economy from bottom to top,”

The first policy of the economy is to fix the ministry from top to bottom maybe instead

[hotchilli]

18 hours ago, webfact said:

“By promoting five key products – rice, rubber, tapioca, coconut and corn

Now add snapper fish to the requested price fixing !

[Isaan sailor]

I know at least one Isaan farmer who doesn't want more government subsidies--my wonderful wife.  She just wants the same thing I do--a much lower Baht.  Smart young lady!

[Cadbury]

18 hours ago, webfact said:

“By promoting five key products – rice, rubber, tapioca.............

The big loser in last month's exports. Rice down 45% Y/Y

China has huge stockpiles of rice and is in the process of dumping it, especially to African markets previously held by Thailand. 

In addition China's Belt and Road Initiatives and price cutting are working in their favour against their "good friends" Thailand.

Vietnam is also carving chunks out of Thailand's traditional markets with a price advantage and improved quality. 

And of course the local drought hasn't helped.

 

In the meantime, back at the ranch, the high baht is smashing Thailand's economy. But the intelligentsia has everything under control with their simplistic stimulus plans..........they will "expand existing markets, open new markets and recover lost markets".

There, all done and dusted! Competition doesn't frighten us; back to sleep everyone.

 

 

 

[Srikcir]

2 hours ago, RichardColeman said:

The first policy of the economy is to fix the ministry from top to bottom maybe instead

Not just the ministry but the whole new government that's actually practically the same government for the last 5 years in terms of Head of Government and DPM's.

These stated policies are a rehash that will have a short-lived positive effect but will not promote a long-term sustainable economy.

[roobaa01]

with the thb currency far too expensive no expansion into new markets, no stabilization in existing markets, no regaining lost markets but for sure 100 % losing moremarkets. to subsidise export products is short lived and will even do more damage to the economy. 

 

leave your pride behind and devalue the thb.

 

wbr

roobaa01

[bronzedude]

Talk is cheap. Case closed.