Thailand battles influx of cheap Chinese imports with new task force and regulations
The move comes amid concerns that cheap Chinese imports are contributing to factory closures and economic strain
Thailand will set up a task force to strictly enforce existing regulations aimed at stemming the tide of cheap Chinese imports that is threatening the manufacturing sector and an already weak economy, a minister said on Wednesday.
The move comes amid warnings that many Thai businesses may not survive what the main manufacturing association has called a tsunami of cheap Chinese goods, which has already contributed to nearly 2,000 factory closures in Southeast Asia’s second-largest economy in the last year.
The Thai economy is expected to grow 2.6 per cent this year on tourism and exports, but will be dragged down by manufacturing. Factory output for the first half of 2024 period fell 2.01 per cent from a year earlier.
Thailand will set up a task force comprising 28 government agencies that will meet every two weeks to review and revise regulations to prevent the distribution of illegal goods, Caretaker Commerce Minister Phumtham Wechayachai told reporters.
“We will use existing measures more extensively,” Phumtham said, adding that these regulations comply with global trade rules.
Other measures include increasing the number of controlled goods under industrial and drug laws and ramping up the frequency of random container inspections, he said.