New commerce minister outlines policies for short and long terms

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New commerce minister outlines policies for short and long terms
Petchanet Pratruangkrai
The Nation


Chatchai Sarikulya briefs Commerce Ministry officials on his policies yesterday.

Pledges transparency, sustainable measures for growth; keeps year's export target

BANGKOK: -- Newly appointed Commerce Minister General Chatchai Sarikulya plans for export growth of 4 per cent next year, while maintaining this year's target at 3-3.5 per cent, as well as making the management of crop prices, rice stocks, and retail prices more efficient, with transparency and minimal intervention.

On his first day at the ministry yesterday, Chatchai said he would work closely with Deputy Commerce Minister Apiradi Tantraporn and the ministry's officials to carry out urgent policies within one year, and draw up sustainable measures to facilitate trade growth in the long term.

Among the key tasks, managing the 18 million tonnes of rice in the stockpiles and ensuring it is sold for a good price are among the major concerns of the new minister.

"The ministry will not intervene in the market if it is not necessary and will intervene in the market price as little as possible, while finding some additional measures to stable the rice price, promote more yield per rai and reduce the cost of production to help farmers," he said.

The ministry expects the price of white paddy rice in the upcoming harvest season will be Bt8,000-Bt9,000 a tonne. It claims it will not intervene in the market mechanism, but will find other ways to help ensure a fair return for farmers.

Also, it will set up zoning for farm crops in accordance with the environment, irrigation systems, and soil quality. It will also draft a research agenda for supporting agricultural development as well as support the supply chain from production to trading.

Chatchai said the ministry would continue to sell rice under government-to-government and private-sector contracts. As the next harvest season approaches, the ministry is not too worried about market prices, and will continue to sell rice in the existing stockpiles to overseas buyers.

The ministry will also look for new markets for Thai rice, and plans to invite the Iranian ambassador for talks in November in order to tighten trade cooperation and promote rice sales to Iran.

Chatchai is also optimistic that exports will increase in the second half, to meet the full-year growth target of 3-3.5 per cent, the fact they shrank by 0.42 per cent in the first seven months.

While acknowledging it would be quite difficult to achieve this year's export goal, he said this challenge would encourage all sectors to help promote exports in the remaining months.

The ministry will also target export growth of least 4 per cent next year. To that end, Chatchai will urge Thai trade officials overseas to find new channels to promote exports to new markets. The minister has also emphasised plans to stimulate trading with border countries under Asean integration, particularly with Myanmar, Cambodia and Laos.

Moreover, the ministry will re-engage with trade regimes and free-trade agreements in many frameworks including bilateral, regional and multilateral agreement under Asean+3, Asean+6, and the World Trade Organisation.

As a long-term strategy to promote trade growth, the ministry will synergise work with other agencies to support supply chains, value-added products and brand creation.

As a measure to manage cost of living, Chatchai said he would soon discuss with consumer-goods manufacturers whether to proceed with the price-freeze policy, which is scheduled to expire in November. The meeting with manufacturers and food processors is scheduled for September 23.

He said the ministry would work based on fair benefits for all and would try to balance benefits for manufacturers, traders and consumers.

Asked about dividing responsibilities between himself and his deputy, Chatchai said he would be directly responsible for the departments of Internal Trade, International Trade Promotion and Foreign Trade. Apiradi will focus on the departments of Trade Negotiations, Business Development and Intellectual Property.

Source: http://www.nationmultimedia.com/business/New-commerce-minister-outlines-policies-for-short--30243310.html


-- The Nation 2014-09-16

[Don Aleman]

Blah, blah, blah, All this fellow, and his colleagues need to know is : If you have ten dollars, ( 10 ),don't spend eleven, ( 11 ) !

[Eric Loh]

Got to be kidding. These ain't policies but a check list of what you should do as a CM. Give us something original and fresh thoughts and please more details. Looks like you just taken the cover sheet summary written by your staff and just reading it.

[rubl]

Got to be kidding. These ain't policies but a check list of what you should do as a CM. Give us something original and fresh thoughts and please more details. Looks like you just taken the cover sheet summary written by your staff and just reading it.

Oh come on, Eric, don't be so impatient my boy.

You're also a bit unfair. The poor chap has to come with original and fresh thoughts after three years of the originality of the Yingluck Administration ? That's a hard act to follow, especially without a 500 billion Baht (non-)revolving funds to finance it.

[IamNoone88]

What policies? If the annoucement was to adopt a number of the commercial policies of Singapore and Hong Kong, encourage foreign investment, be less xenophobic, and allow foreigners to control their own business interests....that is a start.....albeit a small start to what is required as the rext of Asia races forward. This however was rubbish.

[billd766]

What policies? If the annoucement was to adopt a number of the commercial policies of Singapore and Hong Kong, encourage foreign investment, be less xenophobic, and allow foreigners to control their own business interests....that is a start.....albeit a small start to what is required as the rext of Asia races forward. This however was rubbish.

And what could YOU do to improve on it?