Yesterday, former commerce minister Phumtham Wechayachai proudly touted a series of remarkable achievements of the Commerce Ministry during his initial year at the helm. These triumphs include securing higher prices for agricultural produce, alleviating the public’s cost of living, and amplifying the competitive edge of small and medium-sized enterprises (SMEs). Now serving as the defence minister in the Paetongtarn government, Phumtham held a vibrant press conference to shed light on the successful commerce-focused endeavors under his watch.
Phumtham enthusiastically detailed how the ministry fostered collaboration among Thai conglomerates and government entities, orchestrating a collective effort to procure both primary and secondary crops. This initiative injected approximately 200 billion baht into the coffers of Thai farmers, significantly boosting their incomes. Such measures reflect the concerted efforts to bolster the agricultural sector, making it a cornerstone of the nation’s economic stability.
Moreover, the ministry’s endeavors were not limited to just bolstering farmers’ incomes but extended to enhancing the prospects of community entrepreneurs and SMEs. By actively promoting local and cross-border trade, the ministry succeeded in generating an impressive 2.35 billion baht in value. This growth was underpinned by key collaborations, including a groundbreaking memorandum of understanding (MoU) signed on May 10 with Japan’s premier e-commerce giant, Rakuten. The MoU aims to spotlight Thai products on an international stage, opening new markets and opportunities for Thai businesses.
Taking the momentum further, Phumtham underscored another significant alliance with Amazon Global Selling, facilitated in partnership with the Department of International Trade Promotion. This collaboration aims to elevate the e-commerce export capabilities of Thai SMEs, offering workshops, advisory services, and comprehensive support for those keen on becoming Amazon selling partners. This strategic partnership not only strengthens Thai businesses’ foothold in the US market but also amplifies their global footprint in the digital age.
In a bid to invigorate grassroots economies and tourism, the ministry undertook a comprehensive overhaul of the 251 Tong Chom (must-see) markets. These revitalized markets have infused approximately 1.98 billion baht into local communities, underscoring their pivotal role in driving socio-economic progress. Such initiatives epitomize the ministry’s commitment to fostering sustainable development at the grassroots level, enriching both local economies and cultural heritage.
Furthermore, the ministry has championed the use of geographical indication (GI) to enhance the value of crops with unique geographical or cultural significance. By promoting GI, the ministry aims to safeguard traditional products and encourage their commercial success, thus empowering local farmers and preserving the cultural patrimony of regions across Thailand.
Phumtham’s efforts for Thai agriculture seem promising! It’s fantastic that farmers are getting better prices for their crops.
Sure, but is it sustainable? Sometimes government incentives just create short-term boosts without lasting impact.
Exactly. Long-term sustainability is key. These efforts need continuous monitoring and adaptation.
As a farmer, I can say that any help is appreciated. Short-term or not, it’s better than nothing.
No doubt improvements are good, but we must think about future generations too!
@User199, I agree. It’s a balance between immediate relief and long-term planning. Hope the Commerce Ministry has both in view.
Great to see the push for SMEs! Collaborations with Rakuten and Amazon Global Selling could really help boost their global presence.
Yeah, but how many SME owners actually know how to leverage these platforms? They’d need serious training.
Absolutely! Workshops and advisory services should be comprehensive for real impact.
The revitalization of Tong Chom markets sounds like a win! Local economies need that kind of boost.
I think it’s great for tourism as well. Gives visitors unique experiences and helps locals.
But won’t this just make those places more touristy and lose their authenticity?
Good point, @Tommy Boy. Balancing tourism and authenticity is a challenge. Hope the ministry has plans for that.
Geographical Indication (GI) can be a game-changer for local farmers! Protecting traditional products is crucial.
True, but how enforceable is it? GI laws are tricky and often not respected internationally.
We need strong international agreements to ensure protection of GI products.
Yes, it’s definitely about having strong agreements and enforcement mechanisms. It’s not just about making a law but upholding it internationally.
Love to see government supporting local businesses. More countries should follow this example!
2.35 billion baht from SME promotions is insane! Just hope the momentum stays.
Hopefully, but often these spurts of growth fizzle out without consistent policies.
If Thai businesses truly harness Amazon Global Selling, they’d be unstoppable! Potential is huge.
Agreed! E-commerce is key for modern business growth.
200 billion baht injected into farmers’ incomes is significant. This seems like a model other countries could replicate.
It’s amazing, but how long will this support last? Governments change and so do their priorities.
That’s a valid concern. Policies need to be long-term to have a real impact.
Partnerships with giants like Rakuten and Amazon are what small businesses need to survive and thrive in this digital age.
Absolutely, but it’s important small businesses understand how to navigate these platforms effectively.
100%, @MI6. They need the right tools and training. It’s an investment in their future.