Bangkok: Commerce Minister Supajee has unveiled her strategy for modern global trade, highlighting trust as the cornerstone of Thailand's approach to international commerce. She aims to position Thailand as a collaborative partner across various sectors and expedite the completion of Free Trade Agreements (FTAs) with the European Union (EU) and Canada within the year.
According to Thai News Agency, Ms. Supachie Suthamphan, Minister of Commerce, shared the successful outcomes of the World Economic Forum Annual Meeting 2026 (WEF 2026), held from January 19-23. She noted a shift in the global trade landscape from a multipolar world to extreme polarization, where nations are compelled to take sides across multiple domains, including trade, technology, and security. In this context, Thailand seeks survival by exploring new markets, trade models, and cooperative forms to mitigate vulnerabilities in an uncertain global system.
The Ministry of Commerce has devised a proactive approach based on critical points. First, Thailand aims to be an ally to all parties, maintaining friendly relations with power blocs. Discussions with the EU President have already commenced to expedite FTA negotiations for conclusion this year.
Secondly, the emphasis is on building trust with trading partners, transforming them from mere partners to true allies. This approach focuses on mutual benefit rather than taking sides, considering both parties' interests.
Thirdly, Thailand aspires to deepen trade relationships and integrate into supply chains. The country must identify where its products fit into partners' supply chains, positioning itself as a crucial component to meet partners' needs and collaborate on entering third or fourth markets.
Fourthly, upgrading the digital economy is crucial. Thailand must leverage the Digital Economy Framework Agreement (DEFA). At the "Recording Trade" meeting, the Thai Ministry of Commerce highlighted its role as chair of ASEAN Digital Economy Framework negotiations, aiming to increase regional trade value significantly by 2030.
Ms. Supajee also discussed FTA negotiations with Canada, aiming for an agreement this year, and the ratification process of existing FTAs to assure foreign investors of policy consistency. The goal is for all agreements to take effect on January 1, 2027, for investors to benefit.
At the Davos conference, discussions with the Director-General of the World Intellectual Property Organization (WIPO) explored leveraging intellectual property systems to support the creative economy, empowering youth to protect and develop their ideas commercially.
Ms. Supajee concluded that Thailand must forge its unique identity and use trust as a vital tool to transform trading partners into allies, seeking mutual future benefits.