Thailand must leverage its existing economic potential to access new markets, create greater value and generate new opportunities as the global trade landscape undergoes profound changes, according to Poonpong Naiyanapakorn, Director-General of the Department of Business Development, Ministry of Commerce.

Speaking after delivering a keynote address titled “The Ministry of Commerce’s Role in Thailand’s Economic Recovery” at the Thai Chamber of Commerce’s 2026 Annual Seminar on September 10, 2026, at the Shangri-La Hotel Bangkok, Poonpong said global conditions and the rules of trade competition have fundamentally shifted.

He said revitalizing Thailand’s economy requires the country to make better use of its existing strengths while developing new markets and sources of economic value. This forms the core of the Ministry of Commerce’s “Unlocking New Growth” concept.

Thailand and the global economy are facing major changes driven by geopolitics, supply-chain diversification, technological advances, environmental pressures and demographic shifts. For businesses, these changes mean that markets, costs, technologies, regulations and consumer expectations are all evolving.

As a result, the nature of competition is also changing—from competing primarily on low costs to competing on stability and reliability; from competing on scale to competing on the speed of learning and adaptation; and from simply selling products to creating value through experiences, standards and trust.

“Thailand must therefore elevate its role to become a ‘Trusted Partner’—one that is reliable, resilient and agile,” Poonpong said.

He emphasized that economic recovery should not be measured solely by headline economic or trade figures.

“Trade figures indicate that for an economic recovery to be meaningful, we must consider how widely the benefits of that recovery are distributed among entrepreneurs and how much of the value generated by the recovery is retained within the country,” he said.

SMEs Key to Broad-Based Growth

Thailand’s export performance has remained strong, with exports expanding by 18.2% during the first seven months of 2026. However, Poonpong said the country must ensure that the benefits of export growth reach a broader base of businesses.

Thailand has more than 3.28 million small and medium-sized enterprises (SMEs), accounting for 99.5% of all businesses. They employ more than 13.6 million people, but contribute approximately 35% of GDP and account for only around 14% of export value.

These figures indicate substantial room to help small businesses move onto higher-growth paths and enable medium-sized enterprises to expand further, generating greater economic value while integrating more Thai businesses into global markets and supply chains.

Poonpong said the government must pursue two tracks simultaneously: maintaining economic stability while transforming the country's economic structure.

The first involves addressing vulnerabilities affecting businesses and households, including the cost of living, income levels, operating costs, agricultural price stability and fair competition.

The second focuses on structural transformation through higher productivity and value-added production, greater technology adoption, market diversification and deeper integration of Thai SMEs into global supply chains in industries where the country has developed sufficient capabilities.

Thailand's manufacturing sector must also move up the value chain, he said, transitioning from original equipment manufacturing (OEM) toward original design manufacturing (ODM) and ultimately original brand manufacturing (OBM).

The objective is to ensure that a greater share of value, technology and brand equity is created and retained within Thailand rather than being captured elsewhere in the supply chain.

Five Priorities for Business Competitiveness

Feedback from the private sector has identified five major areas requiring government attention: market access and effective use of Free Trade Agreements (FTAs); costs and productivity; opportunities for SMEs; fair competition; and government regulations and procedures that create “time costs” for businesses.

The Ministry of Commerce must therefore focus on reducing these constraints, Poonpong said.

He said the ministry's role must go beyond monitoring commodity prices, negotiating FTAs and implementing individual promotional programmes. Instead, it must connect Thailand’s economic potential with market opportunities and channel those opportunities back into the domestic economy to create value for Thai people.

Poonpong outlined three key roles for the ministry: “Stabilize,” “Connect” and “Unlock.”

“Stabilize” means ensuring economic stability and addressing vulnerabilities. “Connect” means linking demand with supply and connecting entrepreneurs with markets. “Unlock” means opening markets, increasing value, reducing constraints and using technology and data to lower costs and distribute opportunities more widely.

Agriculture and Food Sector to Shift from Volume to Value

Poonpong said unlocking Thailand's potential must produce tangible results, including the digitization of government services, integration of business data and the use of data to support targeted regulation.

These measures should reduce paperwork, save businesses time and money and improve the overall ease of doing business.

The Ministry of Commerce must work closely with other government agencies and the private sector, with the agriculture and food sector identified as the first priority.

The sector needs to shift from a focus on “volume” to “value” by using data and market demand to guide production and better connect farmers with markets.

At the same time, fair trade must be maintained for all stakeholders, including businesses, consumers and farmers. Higher and more stable farm incomes would help strengthen the agricultural sector while contributing to a more sustainable cost-of-living structure.

Helping SMEs Move from Survival to Scale

The second priority is SMEs and community enterprises, with the emphasis shifting from “survival” to “scaling up.”

Poonpong said the goal should not simply be to help SMEs remain in business, but to establish a clear growth trajectory—from Start-up to Scale-up, Market Leader and ultimately Regional Player.

This requires improvements in skills, technology, standards and branding, together with greater access to new markets.

The government will also use the “Big Brother Plus” mechanism to connect smaller businesses with larger companies, helping them gain access to markets, supply chains and business opportunities.

Both domestic and international markets must be expanded while ensuring a level playing field. This includes tackling problems associated with nominee arrangements and substandard imports that can undermine legitimate Thai businesses.

From Export Growth to Local Value Creation

The third priority is increasing the value generated by Thailand's exports, both goods and services.

Poonpong said the country should move beyond a narrow focus on “Export Growth” toward “Local Value Creation.”

Thailand should maintain its existing key markets while developing new high-potential markets and making more effective use of FTAs, including by translating their benefits into opportunities at the city, provincial and state levels.

The country must also increase local content and value, integrate SMEs into global value chains and encourage Thai businesses to move beyond contract manufacturing and raw-material sales into higher-value activities such as branding, design, technology and services.

The fourth priority is regulatory reform.

Government regulations and procedures must be modernized to make it easier for businesses to operate. Public services should not only be convenient and up to date, but also fast and responsive, thereby improving the competitiveness of Thai entrepreneurs.

The fifth priority is preventing and suppressing illegal businesses and goods.

Poonpong said this is essential to maintaining fair competition by ensuring that all businesses operate under the same laws and conditions. Effective enforcement also helps protect consumers from illegal or substandard products.

Public-Private Collaboration Critical to Success

Poonpong acknowledged that the vision cannot be achieved through government action alone.

Chambers of commerce and trade associations, as representatives and leaders of the business sector, will play a critical role in unlocking Thailand's economic potential.

He said these organizations should function not merely as representatives of their members, but as economic infrastructure for their respective industries. Their roles include aggregating business concerns, communicating the needs of entrepreneurs, improving standards and technology, and connecting SMEs with markets, funding sources and larger corporations.

The approach is intended to build networks and scale successful initiatives so that their benefits reach a broader group of entrepreneurs.

This is consistent with the Ministry of Commerce's approach to strengthening public-private sector cooperation, in which the government helps remove barriers and develop the necessary tools, while the private sector acts as the driving force that turns opportunities into actual businesses and sustainable growth.

Poonpong said that if the government and private sector align their efforts toward a common objective, Thailand can transform its existing economic potential into a new engine of national growth.

The “Unlocking New Growth” strategy, therefore, is not simply about increasing trade volumes. It is about ensuring that Thailand captures a larger share of the value generated by its economy, enables more businesses to compete internationally and creates broader and more sustainable opportunities for Thai people.

The Better News English