Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts.
In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government to pursue a more balanced approach focused on establishing rigorous standards rather than outright bans.
“I believe that Thailand and China can create trade opportunities together.”
Wimol explained that Thailand’s smaller population makes it unwise to emulate Indonesia’s stringent measures. Instead, he emphasised the need for a free trade environment, highlighting the substantial trade relationship between Thailand and China. He noted that China provides favourable conditions for Thai products, allowing tax-free exports at specific thresholds, which could significantly benefit local businesses.
There is a growing demand for Thai food products among Chinese consumers, and Wimol encouraged Thai entrepreneurs to tailor their goods to effectively target this market. With the potential for Thai soft power to penetrate the Chinese market, he remains optimistic about the possibilities that lie ahead.
Moreover, Wimol reassured that banning TEMU would be counterproductive, especially considering the Chinese ambassador’s commitment to working with the platform to ensure compliance with Thai regulations. These regulations require that foreign products meet local standards, allowing for a collaborative approach that could foster stronger trade ties, reported The Nation.
In related news, the International Institute for Trade and Development is set to unveil an action plan designed to address shifts in global trade regulations and industry supply chains. The institute aims to present this strategic plan to the Commerce Ministry, the Thai Chamber of Commerce, and the Federation of Thai Industries by November.
