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Thailand urged to diversify exports, reduce trade barriers

Thailand urged to diversify exports, reduce trade barriers

20 Sept 02:39 Key points summarised by AI
  • US tariffs, particularly a 36% levy on Thai products, pose a significant challenge to Thailand's economic growth, potentially slowing GDP to 1.5% by 2025.
  • To mitigate risks, Thailand must diversify its export markets beyond the US and strategically reduce tariff and non-tariff barriers on US goods to foster negotiations and ease trade tensions.
  • The country should also develop niche product specializations, leverage raw material imports for value-added re-exports, and actively pursue Free Trade Agreements (FTAs) to strengthen ties across emerging global trade blocs while maintaining a neutral stance.
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Economy 1/1
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