The Commerce Ministry is planning the compilation of a National Trade Estimate containing outlooks for the Kingdom's trading partners, with a view to strengthening efficiency and informing those involved in trade negotiations.

The project aims to expand export opportunities in targeted markets as well as serve as a reference in free-trade talks.

Skol Harnsuthivarin, secretary to the commerce minister, said last week that the lack of trade data had resulted in lost opportunities and inferior bargaining power during trade negotiations with other countries.

Commerce Minister Krirk-krai Jirapaet has realised the importance of trade information and instructed officials to complete the country's first-ever National Trade Estimate (NTE) this year, he said.

The NTE will cover tariff rates, trade and safeguard measures, investment, services, market penetration strategies, trade barriers, export and import policies, and intellectual property rights protection measures for each trading partner.

The report will help the government to learn more about the advantages and disadvantages of each trading partner. It will also encourage the government to draw up commercial policy in advance in order to reduce trade deficits and barriers while supporting negotiators on any trade issues.

Skol said the public and private sectors would be the prime users of the NTE. The trade data will facilitate both marketing and trade negotiation policy management.

Thailand has not had a national reference base that collated all related trade figures. The gathering of the information under the ministry's supervision will effectively open commercial opportunities for the country, he said.

The trade estimate published by the United States will be used as the model for Thailand to develop its own version. The ministry will start with major trading partners this year - the US, Japan, European Union and South Korea - followed by other trading partners in the second year of the plan. The information will be updated annually.

Petchanet Pratruangkrai

The Nation