Newly appointed Commerce Minister Pichai Naripthaphan has vowed to take immediate action to address Thailand’s rising cost of living and accelerate Free Trade Agreement (FTA) negotiations. After his first day in office, Pichai underscored the urgent need to tackle economic issues that have burdened the Thai public.
Working alongside his deputies, Napintorn Srisanphang and Suchat Chomklin, Pichai plans to introduce policies aimed at reducing household expenses, stabilizing fair prices for agricultural produce, and supporting small and medium-sized enterprises (SMEs). The Commerce Ministry’s detailed strategy will be revealed following the government’s policy presentation to Parliament, scheduled for today and tomorrow.
Among the key initiatives, Pichai highlighted measures to lower living costs and address concerns over Chinese imports, which he described as problematic due to their low prices and varying quality. He emphasized that the government needs to work closely with businesses to reassess product costs and reduce prices to alleviate the financial burden on consumers. “We must review product costs and work with businesses to reduce prices. This will help ease the financial burden on the public,” Pichai stated.
A meeting set for September 16 with ministry executives will focus on assigning responsibilities to relevant agencies to address these concerns. While Pichai acknowledged the challenges posed by Chinese imports, he refrained from conveying hostility, suggesting that existing measures could be reevaluated and adjusted as needed.
In addition to reducing living costs, Pichai is prioritizing the acceleration of FTA negotiations with various nations. He believes that new agreements will enhance foreign investment in Thailand, providing a crucial boost to the country’s economy during these challenging times.
The minister’s immediate focus on both internal and external economic challenges signals his commitment to finding solutions that will benefit the Thai public and the business sector alike.
