Thailand is taking strong steps to combat the influx of cheap Chinese imports that are threatening its manufacturing sector and economy. With nearly 2,000 factory closures in the past year alone, the country is setting up a task force to enforce existing regulations more strictly.
The task force, comprised of 28 government agencies, will meet bi-weekly to review and revise regulations to prevent illegal goods from entering the market. Additional measures include expanding the list of controlled goods and increasing random container inspections.
Thailand introduced a 7% VAT on imported goods priced under 1,500 baht in June. However, concerns persist as Chinese e-commerce firm TEMU entered the market, sparking fears of further impact on local businesses.
The government is in talks with the Chinese embassy to address these concerns, emphasizing a non-discriminatory approach while being open to adjustments to current rules as needed. Influential figures like former Prime Minister Thaksin Shinawatra are also calling for protective measures against the influx of cheap Chinese goods.
[ad_2]
Source link
