Bangkok: "Napinthorn" confirms that the Prime Minister is prepared to deal with the US raising import taxes on Thailand. Napinthorn Srisanpang, Deputy Minister of Commerce, announced that the Ministry of Commerce has developed strategies to address the United States' decision to increase import taxes on Thailand by 37%. The approach will involve negotiation, with specifics to be determined by a committee established by the Prime Minister. Efforts are underway to explore new markets, leveraging Thailand's strength in fruit production.
According to Thai News Agency, Mr. Napinthorn elaborated on the US declaration of the import tax increase, stating that the Prime Minister has initiated a committee that includes the Ministry of Commerce and the Ministry of Finance to deliberate on negotiation tactics. He refrained from disclosing details, citing his non-involvement in the committee. The Ministry of Commerce has already formulated measures to address the situation, although clarity is sought regarding the rationale behind the 37% tax increase, which may relate to an import quota exceeding 72%.
Mr. Napinthorn emphasized the need to understand the origin of the 72% quota figure to negotiate specific product terms. He mentioned the possibility of increasing quotas for controlled imports and reiterated that the committee, comprising the Minister and Permanent Secretary of Commerce, along with the Ministry of Finance, will handle these discussions.
Addressing the pursuit of new markets, Mr. Napinthorn highlighted preparations for exporting Thai fruits, noting the country's tropical advantage in producing world-class fruits. Efforts to penetrate the Chinese, Indian, and Turkish markets are in progress. He expressed confidence in Thailand's capacity to expand agricultural production, particularly in fruits, and suggested transitioning government-subsidized crops to more profitable alternatives. He stressed the importance of market-driven production and called for collaboration with the Ministry of Agriculture and Cooperatives to identify viable crops for cultivation, with the Ministry of Commerce ready to provide support if sales challenges arise.