Bangkok: The Trade Competition Commission (TCC) is actively training entrepreneurs to adapt to the evolving landscape of Free Trade Agreements (FTAs) to enhance their trade competitiveness. According to Thai News Agency, the Competition Commission of Thailand (CCT) is preparing to upgrade its knowledge of competition law for entrepreneurs. This initiative is aimed at keeping them informed of new FTA regulations, thereby boosting the competitiveness of Thai businesses.
Associate Professor Sutham Yuthinatham, Vice Chairman of the Competition Commission and Acting Chairman of the Competition Commission (CC), has disclosed that the CC is participating in negotiations to enhance the ASEAN-Korea Free Trade Agreement (AKFTA Upgrade) alongside the Department of International Trade Negotiations. The objective is to integrate competition and consumer protection issues into the agreement, aligning it with international standards to accommodate shifting trade and investment patterns.
The proposed upgrade to the agreement encompasses several critical areas. These include the digital economy, trade competition and consumer protection, micro, small, and medium-sized enterprises (MSMEs), intellectual property, economic and trade cooperation, and sustainable development within the green economy. This modernization effort aims to keep the agreement relevant amidst the rapidly changing global trade landscape.
Pol. Lt. Gen. Phithaya Sirirak, a TCC member and part of the negotiating team, emphasized that the TCC will incorporate international best practices from the negotiations into its operations. This involves refining its approach to educating businesses on competition law, making them aware of the increasingly complex competition rules under FTAs, and enabling them to mitigate risks from unfair trade practices while expanding markets and competitiveness.
The agreement upgrade is also expected to fortify cooperation among competition regulatory agencies of member countries. This includes exchanging information, knowledge, and law enforcement experiences to enhance competition regulation effectiveness, foster business and investor confidence, and promote fair competition in the region.
Associate Professor Sutham affirmed that the TCC will persist in developing laws, regulatory mechanisms, and a knowledge base for entrepreneurs. This endeavor is designed to prepare Thai businesses for global trade rules, fully capitalize on free trade agreements, and enhance the country's long-term competitiveness.