Suphajee's Plan to Reduce Trade Deficit and Boost Thai SMEs

Khaosod•Economy•19d ago

Reader Briefing

Deputy Prime Minister and Minister of Commerce Suphajee Suthamphan aims to balance trade by integrating Thai SMEs into global supply chains and fostering co-creation with partners.

•Thailand faced a total trade deficit of 35,354.5 million USD during the first 7 months of 2026.
•The deficit is primarily driven by imports for production, such as capital goods and raw materials, accounting for 72.9% of total imports.
•Suphajee Suthamphan is implementing a 'Mutual Benefit' strategy to increase local content and technology transfer.
•Thailand is pursuing specific collaborations with China for new industries and FTA negotiations with the United Arab Emirates.

Overview

•Thailand recorded a total trade deficit of 35,354.5 million USD in the first 7 months of 2026.
•Capital goods and raw materials/semi-finished products make up 72.9% of Thailand's imports, aligning with the Global Manufacturing PMI expansion.
•Excluding production-related goods, weapons, and energy, Thailand maintained a consumer goods trade surplus of 13,315.6 million USD.
•Suphajee Suthamphan instructed the Ministry of Commerce to prioritize Mutual Benefit and Local Content to integrate Thai SMEs into supply chains.
•Suphajee Suthamphan proposed that China review investment patterns to increase the use of Thai raw materials, labor, and Co-Creation in processed foods and health products.
•Suphajee Suthamphan is promoting Thai SME products on Chinese e-commerce platforms to access Chinese consumers.
•Thailand is negotiating an FTA with the United Arab Emirates to balance the energy import deficit and develop new joint business markets.
•Suphajee Suthamphan stated that Thailand must establish itself as a Trusted Partner regarding quality, standards, and supply chain security.

Full article content is available on the original source.

Read on Khaosod (Thai Version)

Source: Khaosod (Original)

View Original Article

Key Quotes

Suphajee Suthamphan

"The goal of the Ministry of Commerce is not just to reduce the trade deficit figure, but to use strategic relations with trading partners to create new economic opportunities for Thailand."

เป้าหมายของกระทรวงพาณิชย์ไม่ใช่เพียงการลดตัวเลขขาดดุลการค้า แต่คือการใช้ความสัมพันธ์เชิงยุทธศาสตร์กับประเทศคู่ค้ามาสร้างโอกาสทางเศรษฐกิจใหม่ให้กับประเทศไทย

Key Entities

Person

Suphajee Suthamphan(ศุภจี สุธรรมพันธุ์)

Deputy Prime Minister and Minister of Commerce of Thailand.

Organization

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

The Thai government ministry tasked by Suphajee Suthamphan to create trade balance based on mutual benefit.

Place

China(จีน)ℹ️

A major trading partner with whom Thailand is discussing increased local content and Co-Creation in health and food products.

United Arab Emirates(สหรัฐอาหรับเอมิเรตส์)ℹ️

A country from which Thailand imports energy and is currently negotiating an FTA with.

Thailand(ไทย)ℹ️

The nation facing a trade deficit in production-related imports while maintaining a surplus in consumer goods.