Photo Credit: Reuters
Prime Minister Anutin Charnvirakul will preside over the inaugural meeting of the Economic Ministers Committee on October 15, marking the first session of Thailand’s vital new economic policymaking body. The committee, approved by Cabinet last week, includes over 25 members from various economic ministries and agencies and will convene at Parliament House.
Suphajee Suthumpun is expected to lead Thailand’s new US trade negotiation team, known as “Team Thailand,” which will take over tariff-related negotiations with the United States. The Commerce Minister previously indicated that the first meeting would focus on tariff talks with Washington and free trade agreement (FTA) discussions. Current negotiations are in the technical stage, concerning rules of origin and regional value content, with aims to reach a conclusion by the end of 2025. The formal appointment of the team must be approved by the Cabinet, involving multiple ministries and private-sector stakeholders.
Given the significance of the US as a major export market, the Commerce Ministry is prioritizing efforts to address US tariff measures and aims to finalize a detailed negotiation framework by year-end. The government encourages industries to prepare by exploring alternative markets and aligning products with global demand.
In addition, the Commerce Ministry is pushing to accelerate FTA negotiations, targeting the conclusion of two new agreements with the European Union and South Korea by 2025, in line with Thailand’s strategy to strengthen access to high-value export markets.
Meanwhile, the Board of Investment (BOI) plans to seek approval for a new “Fast Pass” mechanism designed to expedite approvals for large-scale and strategic projects exceeding 300 billion baht. This fast-track licensing and regulatory process aims to remove bureaucratic delays and foster increased foreign investment. The proposal will be presented to the BOI Board and the Economic Ministerial Committee for approval, emphasizing cross-agency collaboration to accelerate private sector development.