Ministry preps one-stop service centre
Commerce Minister Jatuporn Buruspat said Thailand is waiting for confirmation from the US on the tariff rate.
"I am confident the US will announce the rate within the next 24 hours," he said yesterday.
Mr Jatuporn discussed with Deputy Prime Minister Pichai Chunhavajira about establishing a one-stop service centre within the Department of International Trade Promotion's Export Service Centre in Bangkok. The centre would consolidate various agencies to offer thorough support to all parties directly and indirectly impacted, he said.
The ministry is prepared to assist businesses of all sizes, including working with relevant agencies to offer low-interest loans or soft loans to enhance liquidity in the private sector.
The ministry will allocate a stimulus budget to seek new markets, pursue trade negotiations and promote campaigns such as "Thai Makes, Thai Uses, Thai Helps Thai" to stimulate domestic consumption as exports are likely to decline, he said.
Visit Limlurcha, president of the Thai Future Food Trade Association, said he hopes the tariff rates on Thai products will be lower than 20% as most other Asian countries face rates between 15% and 25%.
"If Thailand opens its market to US goods without a tariff, it's crucial we leverage these imports effectively, using them as raw materials for our export production as this could help lower production costs," he said.
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