Thai business operators advised to explore opportunities amid US-China trade war

BANGKOK, October 31 (TNA) - The Thai government, through the Ministry of Commerce, suggests that business operators in the country explore their opportunities in the ongoing trade war between the United States and China, namely becoming contracted producers of goods for both US and Chinese manufacturers. Voicing the suggestion on Wednesday, Banjongjit Angsusingh, Director-General of the ministry's Department of International Trade Promotion, told journalists that her department has laid out strategic approaches in which business operators in Thailand can further explore for their trade and investment opportunities amid the escalating trade war between the immense US and Chinese economies, where more products will be imposed by stiff tariffs, probably as high as 25 per cent, reciprocally next year. Banjongjit said the strategic approaches cover those on protecting Thailand's producers and goods from negative impacts of the ongoing trade war between the immense US and Chinese markets. According to the senior official, she has instructed her department's international trade promotion offices overseas to look into ways in which Thai firms may become contracted producers of goods for both US and Chinese manufacturers as certain goods produced and exported from Thailand to the US and the Chinese economies are not affected by high imported tariffs imposed reciprocally by Washington and Beijing. Besides, the international trade promotion offices overseas have been ordered to find new potential markets for Thai exporters whose products are also affected by the current tit-for-tat trade war between the United States and China in order to ease the impacts on them and the export-oriented Thai economy. The senior official raised as examples that Thai producers and exporters of economic crops, paper, cotton, child clothes and footwears, fish, some chemical products, as well as parts and accessories of motorcycles and nuclear reactors could explore their opportunities amid the ongoing US-China trade war. The senior official also suggested that Thai producers and exporters, especially those running small and medium-sized enterprises and startups further develop their business potential to enhance their competitiveness and opportunities amid the current trade war between the immense US and Chinese economies. (TNA)