National —
On August 28th, 2024, Phumtham Wechayachai, the Acting Deputy Prime Minister and Minister of Commerce, held a crucial meeting aimed at tackling the issue of substandard and low-priced imported goods flooding the Thai market.
The meeting, which included top officials from 28 relevant agencies, focused on enforcing stricter regulations to prevent non-compliant products from entering the market and harming Thai businesses.
Phumtham outlined a comprehensive approach to ensure that imported goods meet legal standards, protect consumers, and support the competitiveness of Thai SMEs and e-commerce businesses in an increasingly digital global economy.
Among the five key measures discussed were enhanced enforcement of customs laws, with a focus on stricter inspections at entry points, especially concerning product declarations, VAT compliance, and adherence to Thai industrial standards (TIS).
There are also plans to revise trade regulations to better align with future commerce trends, including requiring foreign online platforms selling in Thailand to register as legal entities within the country.
The Thai government also aims to strengthen tax regulations for foreign online sellers and platforms operating in Thailand, ensuring they pay VAT. Additionally, measures will be implemented to help Thai SMEs adapt and compete in the global market, particularly through increased support for exporting via e-commerce platforms.
Phumtham emphasized that these measures are not intended as trade barriers but as necessary steps to protect the interests of Thai consumers and businesses while maintaining fair trade practices and international relations.
The Ministry of Commerce is committed to regularly reviewing and adjusting these policies to ensure they effectively safeguard the country’s economic interests.
