Bangkok: Government spokesman reveals that the private sector is grateful for the negotiations for a 19% tariff, which allows them to compete with competitors, reinforcing Thailand's trade potential and building confidence among entrepreneurs and investors.
According to Thai News Agency, Mr. Jirayu Huangsap, Government Spokesperson, announced that Thai private sectors from various business and industrial segments have expressed their appreciation to the government and relevant agencies, particularly Team Thailand. This follows a preliminary agreement with the United States to reduce the reciprocal tariff from 36% to 19%, a level deemed appropriate and competitive in the global trade arena.
Mr. Jirayu mentioned that prominent leaders from the private sector unanimously recognized the Thai government's proactive stance in these negotiations, highlighting meticulous planning and collaboration since the beginning of the year. Mr. Kriangkrai Thienukul, President of the Federation of Thai Industries, emphasized confidence that the new tax rate will sustain competitiveness and attract foreign investment, particularly foreign direct investment (FDI). He acknowledged Team Thailand's dedication in achieving this success, which will enhance confidence among both Thai and foreign entrepreneurs.
Mr. Wisit Limluecha, Vice Chairman of the Thai Chamber of Commerce, noted that the tariff rates align closely with those of peer countries producing similar or substitutable products, which is vital for maintaining Thailand's price competitiveness globally. Mr. Suphachai Chearavanont, Chairman of the Executive Committee of Charoen Pokphand Group, also expressed gratitude to the Thai government and the negotiating team for the successful tariff reduction, which underscores Thailand's credibility as a reliable economic partner to the United States.
The government expressed its appreciation to the private sector for their support, affirming that efforts to maintain and expand trade opportunities are yielding tangible results. The government remains committed to continuing detailed negotiations with the United States to serve the best interests of the nation.