New Thai Commerce Minister Targets High Living Costs, Chinese Imports

[snoop1130]

 

Newly appointed Commerce Minister Pichai Naripthaphan has committed to taking swift action to combat the high cost of living and to expedite Free Trade Agreement (FTA) negotiations. Following his first day in office, Pichai highlighted the urgency of addressing the economic challenges facing Thailand.

 

Pichai, ready to work closely with his deputies Napintorn Srisanphang and Suchat Chomklin, aims to implement policies that will cushion public expenses, ensure fair produce prices, and provide support for small and medium-sized enterprises (SMEs). The Commerce Ministry’s strategy will be laid out after the government’s policy presentation to Parliament today and tomorrow.

 

Key policies will include measures to reduce living costs and stringent monitoring of Chinese imports, which Pichai acknowledges as problematic due to their low cost and quality. To counter this, a meeting with ministry executives on September 16 will determine the allocation of tasks across relevant agencies.

 

 

 

 

Pichai stressed the need for urgent steps, stating, "We must review product costs and work with businesses to reduce prices. This will help ease the financial burden on the public." Regarding Chinese imports, he indicated that existing measures could be reevaluated, and further action might be taken if current regulations fall short, though he was careful not to convey animosity towards Chinese goods.

 

Accelerating FTA negotiations is another priority, as new agreements with various countries could boost foreign investment in Thailand, thereby invigorating the economy during these trying times.

 

File photo for reference only

 

-- 2024-09-12
 

 

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[Tropicalevo]

5 minutes ago, snoop1130 said:

"We must review product costs and work with businesses to reduce prices.

Oh, and my mate in the office next door is going to increase salaries thereby increasing costs.

And further down the corridor they are probably looking at increasing taxes so as to get the country out of the poop that it is in.

[retarius]

Pushing up the prices of Chinese imports will not help high living costs. For years the US relied on cheap Chinese imports to keep inflation in check. Then Donald came along....

[hotchilli]

13 hours ago, snoop1130 said:

Key policies will include measures to reduce living costs and stringent monitoring of Chinese imports, which Pichai acknowledges as problematic due to their low cost and quality. To counter this, a meeting with ministry executives on September 16 will determine the allocation of tasks across relevant agencies.

FTA's with China go both ways, how does he expect to curb the Chinese import of cheap goods which seem to be what Thailand wants, or they wouldn't be ordering it.

[hotchilli]

13 hours ago, retarius said:

Pushing up the prices of Chinese imports will not help high living costs. For years the US relied on cheap Chinese imports to keep inflation in check. Then Donald came along....

Then Biden & Co came along, how's inflation been the last 3 years?

[spidermike007]

How do you go about targeting high living costs and low cost imports? It sounds like this guy's a bit of a goon to come right out of the gate saying something so spectacularly inane. 

 

If he does something as stupid and naive as Trump is proposing, he raises the cost of imports, and thereby imposes a tax on the Thai consumer in the way of tariffs.