Shippers council has a strategy to make Thailand a major trading nation

TNSC chairman Chaichan Charoensuk earlier this week highlighted the challenges and opportunities facing Thai exporters in today's evolving global trade landscape. He emphasised the need for increased competitiveness amidst growing trade barriers, rising costs, geopolitical tensions, and conflicts.

"The global trade landscape has become increasingly complex, with rising trade barriers, higher costs, and geopolitical tensions. These challenges pose significant threats to Thai exporters," he said. 

Exports have been a key driver of Thailand's economic growth for over three decades. While the country has achieved significant progress, the average growth rate of exports has declined in recent years.

To address this, the TNSC has proposed the "Thailand Trading Nation" strategy.

The strategy focuses on shifting Thailand's economic structure towards higher-value production and exports. By leveraging innovation and technology, the aim is to transform Thailand into a developed nation by 2032.

Key objectives of the "Thailand Trading Nation" strategy include:

• Increasing the proportion of the service sector and the trade value of small and medium-sized enterprises to at least 50% of gross domestic product.
• Achieving a minimum 5% annual growth in the value of Thailand's exports.
• Positioning at least 30 Thai products and services among the top 5 globally.

To achieve these goals, the TNSC has identified three key pillars: innovation, competitiveness, and sustainable growth.

These pillars will be integrated through the promotion of regional trade centres, investment, finance, information technology, and global supply chain management expertise, he said.

"Innovation is the key to unlocking new opportunities and staying competitive in the global marketplace. Thai businesses must embrace innovation to differentiate themselves and add value to their products and services," he said. 

The strategy emphasises the development of entrepreneurial capabilities in global business, investment, and value chains. It also prioritises research and development, brand building, and the creation of a sustainable value chain.

"Entrepreneurs play a crucial role in driving economic growth and creating new businesses. We must foster a supportive environment that encourages entrepreneurship and innovation," he added. 

The TNSC has outlined seven key areas for development and support:

• Research and development of innovation
• Creation of a trade environment
• Global logistics and trade facilitation
• Environment and sustainability
• Standards and productivity
• Digital economy system
• Human resource development

The success of this strategy would require collaboration among various sectors, including the government, private sector, education sector, community, and society, he said.

Chaichan highlighted the importance of integrating the "Thailand Trading Nation" strategy into the country's overall national development plan. He also stressed the need for visionary leaders who possess the knowledge and understanding necessary to guide Thailand towards its goal of becoming a global trading nation.

"The government must play a pivotal role in creating a conducive environment for trade and investment. This includes providing infrastructure, supporting research and development, and promoting digitalisation," he said. 

The TNSC chief called on Thai exporters to adapt to the changing global landscape and become "export warriors" who can contribute to the sustainable growth of the Thai economy.