The Thai Chamber of Commerce is backing the commerce minister on expediting the conclusion of the Agreement on Reciprocal Trade with the US, noting that Thai products with high local content should be included on the exemption list to strengthen the country's competitiveness.Poj Aramwattananont, chairman of the chamber, said finalising an agreement as soon as possible would provide a clear trade framework, reducing uncertainty for the business sector and enabling companies to plan production, investment and exports with more confidence.
An agreement would also ensure Thai products are subject to tariff rates that are competitive with those of other exporting countries.
The private sector supports Commerce Minister Suphajee Suthumpun's strategy to secure tariff exemptions by expanding the exemption list, particularly for Thai products that use domestically sourced raw materials and generate value through manufacturing in the country, as these products would deliver broad economic benefits, he said.
Thailand is competitive in agricultural products, food, agro-industrial goods, seafood and pet food, which are closely linked to farmers, small and medium-sized enterprises, and food processing industries, said Mr Poj.
