Two voters cast advance ballots at a polling station in Bang Kapi district’s Constituency 14 in Bangkok on Sunday.

As government policy plays a crucial role in shaping the direction of the country’s international trade, key political parties have outlined policies such as accelerating free trade agreement negotiations, developing value-added products and integrating into the global supply chain.

STRATEGIC PARTNERSHIP

Bhumjaithai Party’s trade policies are centred around the "Trade Plus-Thailand Plus" strategy, which highlights global connectivity and mutual benefits.

Suphajee Suthumpun, a member of the Bhumjaithai’s trade and economic team, presented the concept of barter trade, which involves negotiating large government procurement contracts for weapons, aircraft and submarines in exchange for Thai agricultural products.

To improve the agricultural sector, farm production should be aligned with market demand, while developing geographical indication branding for agricultural products is also important, she said.

She referred to supply chain integration, which aims to embed Thai products into the global supply chains of trading partners. For example, selling chemicals to India for processing and re-export to third countries.

"Thailand should not simply sell products for domestic consumption by the trading partners. Instead, we need to explore how Thai products can be processed or re-exported to multiple destinations," she said.

EXPLORING NEW MARKETS

The People’s Party has presented an innovative trade and investment strategy called "Look North-Go South".

Look North aims to attract technology and capital from East Asian industrial nations by tailoring approaches to each country’s specific needs.

Go South seeks to penetrate emerging export markets with growing purchasing power such as Indonesia, South Asia, the Middle East, Africa and Latin America.

Thailand will leverage its strengths in consumer goods, automotive production, and electronics to serve the growing middle class in these markets.

Sitthiphol Viboonthanakul, a People’s Party party-list MP candidate and member of the party’s economic team, told the Bangkok Post that the party’s policies also include stricter control of imports, expanded use of anti-dumping measures and proactive trade strategies.

IMPROVING FARMERS’ LIVELIHOODS

Suksit Srijomkwan, spokesman of the Pheu Thai Party, outlined the party’s proposals on the agricultural and trade sectors, which include enhancing farmers’ productivity and income and negotiating free trade agreement (FTAs).

The highlight is a profit insurance scheme, which guarantees a 30% profit margin on production costs, regardless of the level of production costs. For instance, if the production cost is 5,000 baht, an additional 1,500 baht is incurred, bringing the total to 6,500 baht.

If the product market price exceeds 6,500 baht, the government pays no subsidy. But if the market price is 6,500 baht, the government pays an additional 500 baht.

The party plans to elevate herb exports from basic commodities to food and medicinal products, supported by research-backed claims.

"Once product quality improves, it becomes the government’s responsibility to explore new markets. Agricultural products should be processed to increase their value and incorporate functional properties, shifting the focus from food security to food and nutrition/medicine security," Mr Suksit explained.

Furthermore, the party is prioritising negotiations on FTAs to bolster Thailand’s position in the global market.

LACK OF PROMISING POLICIES

Dhanakorn Kasetrsuwan, chairman of the Thai National Shippers’ Council (TNSC), said while many political party proposals aim to stimulate the domestic economy, international trade and related industries, which are critical drivers of the economy, are not receiving adequate attention.

However, he acknowledged several promising, feasible proposals and urged the new government to implement them. These include proactive trade negotiations and market expansion.

He emphasised that utilising economic diplomacy, accelerating trade agreement negotiations and enhancing the role of international trade agencies could help mitigate risks associated with reliance on traditional markets and foster long-term opportunities for Thai exporters.

He observed that while some parties mention exploring new markets, they often lack clear targets and actionable measures to achieve those goals.

Another practical proposal focuses on cost-reduction and trade facilitation policies.

He said the private sector sees that improving customs systems, applying digital tools to import–export processes, and reducing redundant procedures are effective and can help enhance the country’s competitiveness.

He also supports proposals to support entrepreneurs, especially small and medium-sized enterprises (SMEs), in accessing global markets.

He said policies that enhance access to finance, knowledge and supply-chain linkages are vital to Thailand’s economic structure and can help create a new generation of exporters.

However, the TNSC noted that campaign policies lack sufficient detail on important issues affecting Thailand’s international trade.

There are no systematic strategies to help businesses adapt to new global trade regulations, including environmental standards, carbon policies, labour standards and environmental, social and governance principles.

He advocated national-level supply chain management to enable businesses to effectively tackle global supply chain uncertainties, such as geopolitical tensions, rerouted transport channels and volatile logistics costs.

When the new government is formed, the council is hopeful that the minister responsible for international trade should understand the global trade dynamics and real business conditions. The minister must be able to drive effective inter-agency coordination.

"The political sector should listen to business input from the early stage of policy planning to ensure measures are practical and executable," he said.

Visit Limlurcha, vice-chairman of the Thai Chamber of Commerce, agreed with the proposals aimed at enhancing the competitiveness of SMEs and increasing farmers’ income by integrating products into the value chain as well as focusing on value-added agricultural products to set them apart in the market.

"Thailand must not compete with other countries that can produce large volumes of products, particularly commodities," he said.

Mr Visit said various political parties have discussed advancing FTA negotiations to promote trade with other countries.

He added that Thailand must broaden its focus beyond exports and carefully consider imported goods.

"If certain imports bring benefits, they should be pursued. This helps identify products and industries in which we can no longer compete globally. There should be a deeper discussion on this because trade is crucial to the country’s future," he noted.

For SMEs and niche markets, he emphasised the need for identifying market opportunities and distribution channels. The government must facilitate this process by identifying requirements, standards and preparation processes to support SMEs.

"There must be a war room to respond to US trade policies, as more measures are likely to emerge, with nations increasingly prioritising their own interests. With 60% of Thailand’s economy dependent on exports, this issue deserves serious attention," he said.