The ministry faces the need to play a key role in imminent trade-related meetings, and needs to fix its stance in negotiations with trading partners.

For instance, newly appointed Commerce Minister Krirkkrai Jirapaet will accompany Prime Minister Surayud Chulanont to an Asean-China meeting later this month in Nanning, China, to discuss a free-trade agreement (FTA).

They will also take part in the Asia-Pacific Economic Cooperation summit next month in Hanoi.

Krirkkrai met yesterday with senior officials from the Trade Negotiations Department, the Export Promotion Department, the Foreign Trade Department and the Internal Trade Department. The meeting was aimed at airing problems, and the new minister emphasised the need for fair practices, efficiency and transparency.

Krirkkrai said the government must reconsider whether to move on bilateral trade negotiations with trading partners.

"As an interim administration, the government must carefully consider this issue," he said, adding that he would pursue bilateral negotiations if the agreements really did benefit the Kingdom. Although some agreements have almost been finalised, such as the Thai-Japanese FTA, the government must still review all of the details to ensure that Thailand would benefit.

Krirkkrai expressed confidence that Thai exports would reach a target of 17 per cent growth this year and achieve a value of US$130 billion (Bt4.87 trillion). The ministry is also officially predicting the same figures.

He said the government would accelerate disbursement of next year's budget, in order to boost the country's economic growth. Thailand has been beset with trade deficits since the start of this year. The total trade deficit in the first eight months was $1.87 billion.

Krirkkrai said the trade deficit for the full year should not exceed $4 billion or $5 billion. The government will urgently promote intertraders and small and medium-sized enterprises in international markets, to help boost the economy.

In regard to the ministry's domestic policies, Krirkkrai said this year's inflation should be about 4 per cent.

The ministry will closely monitor the prices of consumer goods and study retail business laws, to promote fairness in domestic trade competition.

Krirkkrai has also instructed the Commerce Ministry to review Thailand's barter-trade management principles.

"A barter-trade agreement is difficult to manage. The government wants to find suitable ways of managing these special trading contracts," he said, adding that the plan was to implement new barter-trade pacts.

He also wants the Foreign Trade Department to accelerate the draft Safeguard Act for approval by the Cabinet. The law would protect Thai goods against unfair trade practices by trading partners and help maintain the Kingdom's competitiveness.

Petchanet Pratruangkrai

The Nation