PATTAYA, Thailand – Thai Commerce Minister Suphajee Suthumpun unveiled a bold economic plan today aimed at easing the cost of living for citizens and advancing key international trade agreements, with tangible results expected within four months.
Speaking at a press briefing, Suphajee outlined a dual approach to stimulate the economy: accelerating foreign trade negotiations and implementing measures to reduce household expenses. She emphasized that the strategy, dubbed “Short-Term Stimulus, Long-Term Impact, Distributed Growth,” reflects the government’s commitment to tangible economic improvements before year-end.
On the trade front, the ministry aims to finalize an ART trade agreement with the United States by the end of the year while continuing FTA talks with the European Union, South Korea, and other major partners. The goal is to diversify Thailand’s economic partnerships and create new export opportunities for local businesses.
Small and medium-sized enterprises (SMEs) stand to benefit from a six-pronged support program covering access to capital, skill development, e-commerce expansion, and enhancement of GI-certified products. Suphajee stressed that collaboration with both public and private sectors will strengthen competitiveness in global markets.
To address the cost of living, the government will expand initiatives such as the “Thung Fah” affordable goods fairs, reduced shipping rates through collaboration with Thailand Post, and cross-border trade events in seven provinces. These efforts aim to relieve financial pressures on households while stimulating local economies.
Economists and investors will closely monitor the coming four months to assess whether these measures yield measurable results, which are expected to bolster confidence among consumers, business owners, and foreign investors alike.
