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Tuesday, April 30, 2024

Influx of imports hurting the domestic industry


The Commerce Ministry aims to shield Thai manufacturers from damage and its efforts to strengthen and address non-compliant imported products, primarily from China, are nearing completion.

Thailand’s industrial output for both export and domestic consumption has been on a decline for the past several quarters.

The industrial sector has expressed concerns about the dwindling production capacity and output, particularly in products intended for the domestic market. They are demanding that the government enforce stricter measures governing imported products.

Ronrong Poonpipat, director-general of the Department of Foreign Trade, noted that various products are entering the country from all over the globe, not just China. The Commerce Ministry does not have the authority to ban imports, he added, but business operators observing adverse effects or damages to the industry, can file complaints. Procedures including anti-dumping measures will be imposed to counter market manipulation.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), said that a significant influx of low-priced products entered the market this year due to the fragile global economy and slow recovery in purchasing power, resulting in stagnant demand in the global market. Concurrently, the production capacity remained consistent, leading to an excess of products from various global sources inundating the ASEAN market, including Thailand. As a result, these imported products became more affordable than domestically manufactured goods.

 





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