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Commerce Ministry aims to diversify border trade amid ongoing tensions with Cambodia

Commerce Ministry aims to diversify border trade amid ongoing tensions with Cambodia

11 Sept 01:27 Key points summarised by AI
  • The Commerce Ministry is actively seeking new markets and diversifying border trade to mitigate severe impacts from ongoing tensions between Thailand and Cambodia, prioritizing support for affected border communities.
  • Thailand plans to pursue new Free Trade Agreements (FTAs) to boost trade volumes, with the EFTA agreement expected to come into force within four months, alongside new pacts signed with Bhutan and Sri Lanka.
  • Leveraging its strong infrastructure and robust supply chains, Thailand aims to position itself as a reliable trading partner and an important hub for companies realigning global supply chains, amidst efforts by countries to reduce dependence on major powers.
  • Regional trade frameworks, including the ASEAN-China FTA, are being upgraded to encompass more sectors such as digital products and services, reflecting an evolving trade landscape.
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