Bangkok: The Ministry of Commerce confirmed it will proceed with trade negotiations with the United States, despite the ongoing conflict between Thailand and Cambodia, without affecting economic relations. The Ministry is also working to accelerate expansion into new markets to reduce reliance on any single market.
According to Thai News Agency, Ms. Suphajee Suthumpun, Minister of Commerce, addressed concerns that the conflict between Thailand and Cambodia could impact trade negotiations between Thailand and the United States, stating that trade discussions between Thailand and the United States continue to progress steadily and are not affected by international political issues.
Ms. Suphajee stated that the first point that needs to be understood is that Cambodia was the first to violate the Joint Declaration, and the incident resulted in losses to Thailand, which the Thai government cannot accept. She believes that governments of all countries would not accept similar actions.
The United States should therefore understand the facts on this issue and should not use this situation as a reason to delay or halt trade negotiations with Thailand. Discussions with the US Trade Representative at the recent APEC meeting clearly confirmed that the United States separates political issues from trade and remains committed to pushing for successful negotiations by the end of this year. This goal aligns with Thailand's stance and the desire of private sectors in both countries to see clarity on trade and investment.
On November 11, 2015, the Prime Minister assigned Deputy Prime Minister and Minister of Finance, Ekniti Nitithanpraphas, to welcome Mr. Ted Osius, Senior Vice President and Regional Managing Director, and a delegation from the US-ASEAN Business Council (USABC), during their visit to Thailand at the Bhakdi Bodin Building, Government House. The Ministry of Commerce held discussions with the US business delegation under the USABC, and all parties shared the view that Thailand is a key player in the global supply chain and a market with high potential. US businesspeople praised Thailand's proactive role in expanding trade through market opening negotiations and free trade agreements (FTAs).
The meeting also discussed the issue of US tariff policy, which the US private sector views as both an "opportunity and a challenge" for American companies, particularly those with manufacturing bases or supply chains in Thailand. Thailand remains a key manufacturing base and a stable economic partner.
Ms. Suphajee added that the United States is one of Thailand's major trading partners, and the Thai government prioritizes maintaining balance and good relations with friendly trading partners, while continuing to foster economic cooperation. The Thai government and the Ministry of Commerce will continue to pursue trade negotiations with the United States to preserve and protect the interests of Thailand's export sector, while also seeking new markets and promoting sustainable growth of Thai products domestically.
"The Ministry of Commerce has a policy to accelerate the expansion of new markets to reduce reliance on any single market, using proactive strategies including market opening negotiations, business matching activities, and encouraging the Thai private sector to utilize the results of negotiations and trade promotion activities," said the Minister of Commerce.