The Minister of Commerce has ordered close monitoring of the situation in the Middle East and instructed trade envoys worldwide to assess the impact on Thai exports.
Ms. Supachai Sutthaman, Minister of Commerce, revealed that due to escalating tensions in the Middle East potentially affecting global economic stability—especially energy, logistics, and financial market confidence—the Ministry of Commerce has directed all affiliated agencies to closely monitor and evaluate the situation daily.
The Minister of Commerce said the Middle East is a vital and potential market for Thai exports, including Gulf Cooperation Council countries, Israel, and regional trade partners. However, the rising tensions may impact global energy prices, shipping freight rates, international transport routes, and production costs for businesses. To prepare, the Ministry has assigned the 58 overseas trade promotion offices to closely report on economic, trade, and policy developments in partner countries, especially in the Middle East, Europe, and the United States, which may be indirectly affected. They are also tracking changes in shipping routes, marine insurance, logistics costs, and importers’ purchasing behaviors.
Additionally, the Ministry is conducting in-depth impact assessments by product category to analyze risks in each industry and is preparing strategies to diversify export markets to other regions such as South Asia, Africa, and Latin America to reduce over-reliance on any single market. For business support, the Ministry will hold discussions with the private sector, including the Thai Chamber of Commerce, the Federation of Thai Industries, and logistics agencies, to listen to problems and define appropriate mitigation measures. Coordination with state financial institutions is also underway to prepare financial tools to assist exporters affected by global market volatility.
The Minister of Commerce emphasized that these efforts are part of integrated cooperation with all government agencies, including security and foreign affairs sectors, to comprehensively safeguard the country's interests, both in terms of Thai citizens' safety and economic security.
“The Ministry of Commerce and the government urge business operators to closely follow information from government agencies and remain calm. All agencies will proactively coordinate to maintain the stability of Thai exports and build confidence among partners in every region.” Ms. Supachai added.
The government, led by Prime Minister and Minister of Interior Anutin Charnvirakul, will continue to monitor the situation and is ready to adjust measures at various levels to ensure that Thai businesses can conduct trade activities steadily and continuously.
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