The newly appointed chairman of the Thai Chamber of Commerce says the group identified four measures to ignite growth in Thailand and improve its global competitiveness.
Poj Aramwattananont, chairman of the chamber, said collaborating with all sectors is essential to propel Thailand's economy towards stability and sustainability.
He said this vision can unlock growth by maximising the country's growth potential, highlighting four strategies.
First, Thailand must reinforce business confidence and promote trade and investment to better align with global supply chains.
Through the "Team Thailand+" initiative, the chamber has been collaborating with the public and private sectors to effectively address global challenges, including advocating for free trade agreements (FTAs) and economic partnerships aimed at expanding opportunities for Thai businesses, said Mr Poj.
He said US President Donald Trump's tariff intentions should become clearer today, with potentially positive effects for Thailand such as the relocation of production bases to the country and the fast-tracking of FTA negotiations with the EU, Canada and the United Arab Emirates.
"If we conclude more FTA negotiations by the end of this year, it will provide a significant boost for Thailand, potentially adding one percentage point to our GDP growth in the future," said Mr Poj.
Addressing the challenges posed by trade barriers and shifts in the global supply chain, efforts have begun to establish the Agriculture and Food Coordination and Public Relations Center, aiming to effectively manage surplus agricultural products and promptly address declining prices.
The second measure focuses on accelerating business transformation and promoting sustainable economic development, particularly in areas where Thai businesses are less adapted to embracing new technologies and environmental, social and governance practices.
He said the chamber is committed to driving digital transformation across all sectors, with a keen eye on advancements in artificial intelligence, robotics, the Internet of Things, and automation.
"The agriculture and food sectors are vital, as more than 90% of businesses in this field are run by Thai entrepreneurs," said Mr Poj.
Initiatives in this area include smart farming, future food innovations, halal products, and the integration of technology in the food industry.
Moreover, the chamber is working to enhance the tourism sector by prioritising high-quality tourism experiences, focusing on quality rather than quantity.
The third measure highlights the importance of enhancing the potential of the Thai workforce and building effective networks to prepare for the digital transformation of the economy, he said, including reskilling and upskilling Thais for new industries.
The fourth approach involves empowering small and medium-sized enterprises and strengthening public-private partnerships, particularly through international networks.
