The Thai Chamber of Commerce is backing the commerce minister on expediting the conclusion of the Agreement on Reciprocal Trade with the US, noting that Thai products with high local content should be included on the exemption list to strengthen the country's competitiveness.
Poj Aramwattananont, chairman of the chamber, said finalising an agreement as soon as possible would provide a clear trade framework, reducing uncertainty for the business sector and enabling companies to plan production, investment and exports with more confidence.
An agreement would also ensure Thai products are subject to tariff rates that are competitive with those of other exporting countries.
The private sector supports Commerce Minister Suphajee Suthumpun's strategy to secure tariff exemptions by expanding the exemption list, particularly for Thai products that use domestically sourced raw materials and generate value through manufacturing in the country, as these products would deliver broad economic benefits, he said.
Thailand is competitive in agricultural products, food, agro-industrial goods, seafood and pet food, which are closely linked to farmers, small and medium-sized enterprises, and food processing industries, said Mr Poj.
The chamber supports efforts to secure exemption list status for as many of these products as possible.
Mr Poj said these measures would help preserve the competitiveness of Thai exports while directly benefiting farmers, businesses, and the public.
Prioritising Thai products with high local content would also help retain value creation within the country, support employment, and strengthen domestic supply chains, aligning with the global shift towards regional value chains.
Thailand has secured tariff exemptions for 2,120 product lines, a substantial increase from the previous 471 items, according to the Commerce Ministry.
This change means exempted products now make up 61.5% of all tariff lines, representing US$56.2 billion in exports, which is about half of total exports to the US.
The negotiation team submitted proposals for seven product categories covering 78 tariff lines, aiming to include them in the exemption list.
The proposed products include high-potential agricultural and processed goods, such as rice, Thai hom mali rice, corn, coconuts, orchids, cassava products, and select fishery products, as well as other essential export items such as jewellery, dog and cat food, milled rice, and medical rubber gloves.
