Queen Sirikit Convention Center, The FTI points out that the Thai economy has recovered but is still weak. Concerned about the problem of cheap products flooding into Thailand, affecting SMEs, propose that the government revise tax exemptions for online products not exceeding 1,500 baht, including the use of Free Trade Zones, urging the TISI to issue product standards to cover them. Mr. Thawee Piyapatthana, Senior Vice President Federation of Thai Industries Representing the chairperson of the meeting of the joint committee of 3 private sector institutions (CPF), with Mr. Jiraphan Asawathanakul, vice chairman of the committee. Thai Chamber of Commerce and Mr. Kobsak Duangdee, Secretary-General of the Thai Bankers' Association, attended the press conference. Mr. Thawee said that the world economy in 2024 is likely to expand similarly to last year. A severe slowdown can be avoided. The global economy this year is expected to grow at around 3%, slightly better than the previous estimate according to the IMF and OECD's forecasts, due to the US economy. that is still strong despite high interest rates and the Chinese economy is expected to be supported by government measures. This is in line with the Purchasing Managers Index (PMI) in January which improved. Thai exports can still expand but are more at risk from geopolitical issues. Merchandise exports are likely to expand by 2-3% this year in line with the recovery of emerging market countries and the electronic product cycle. However, there are still many geopolitical risks, including upcoming elections in many countries. This may cause important policy changes. The expanding effects of war Especially Israel-Hamas which results in increased freight rates. and affect energy prices Problems of unrest in neighboring countries and competition with Chinese products in neighboring countries The Thai economy has recovered but is still weak. Although the tourism sector is a factor supporting the economy But the manufacturing sector continued to shrink. causing the recovery to be incomplete Continuously negative general inflation is a sign of weakness in the domestic economy. It is considered a signal that should be followed. In addition, Thailand's structural problems cause the economy to tend to slow down. Meanwhile, many Thai products are beginning to fall out of demand in the market. The FTI therefore maintains the economic forecast for 2024 as follows: GDP 2.8 to 3.3, exports 2.0 to 3.0, and inflation 0.7 to 1.2. However, the GDP estimates for 2024 do not yet include the results of the Digital Wallet measures. The meeting supports the implementation of responsible and fair lending measures (Responsible Lending) of the Bank of Thailand (BoT) because it is a method that can actually help solve debt for the people. There will be continuity in providing assistance to debtors since COVID-19. Under the Responsible Lending measures, we will help debtors before they become in bad debt. During bad debt Focus on helping vulnerable groups first. This is because they are a group with a high debt burden. and income has not yet recovered, but asks the BoT to monitor and evaluate the impact of the measures on access to credit. However, importance must be given to raising income levels. and resolve structural problems that have been accumulated for a long time This is reflected in the latest World Economic Forum report that indicates that Thailand still does not perform well in the Future of Growth rankings and needs to urgently improve inequality. (Inclusiveness, Sustainability, and Resilience) are still lower than the world average. Therefore, Thailand needs to urgently eliminate income differences between different groups. Including reducing the size of the informal economy. and increase competitiveness Mr. Jiraphan Assavathanakul, Vice Chairman of the Board The Thai Chamber of Commerce said that the FTI is concerned about the problem of cheap products being dumped into the Thai market. and in the ASEAN market Both from online products (E-commerce) and taking advantage of the Free Trade Zone to sell products within the country. This includes smuggling goods through customs by declaring false information to avoid taxes. This causes cheap products, including products that do not have standards, to flood into the domestic market. It affects product sales of Thai entrepreneurs, especially SMEs who are unable to compete on costs. Therefore, we propose that the government sector revise the exemption from collection of Value Added Tax (VAT) for online purchases not exceeding 1,500 baht in order to ensure fairness to Thai entrepreneurs. Review policies and conditions for using benefits in the Free Trade Zone, including issuing measures to protect domestic entrepreneurs, such as implementing anti-dumping measures and market subsidies. (Anti-Circumvention: AC) comes into force, increasing the strictness of inspection of goods imported through customs. and accelerating the issuance of comprehensive industrial product standards, etc. In addition, the FTI is also concerned about the density of tourists in some tourist destinations, such as Phuket, and therefore asks the government sector to organize this. and promote tourism in secondary cities To reduce density and help distribute income evenly. However, the problem of government construction procurement This makes the Thai private sector unable to compete at its full potential. And many parts still need to be improved to be in line with the situation, such as past price references not reflecting actual costs, emphasis on low prices, and the classification and selection process still hindering competition. There is a delay in disbursing money. Therefore, the private sector has proposed solutions to solve the problem of public construction employment as follows: 1. Adjust concepts in the law From emphasizing the benefits of government agencies to public benefit 2. Adjust price calculations to reflect actual costs. 3. Adjust the contract form By requesting amendments to laws and amendments to contracts 4. Set conditions for selecting contra ctors. By proposing to amend the law that sets conditions for selecting contractors in a transparent manner 5. Create a systematic consultation mechanism with stakeholders. Source: Thai News Agency