Thailand has recorded a decrease of 20% in low-quality imports, mainly from China, since imposing restrictions on cheap imports that are hurting business in Southeast Asia's second-largest economy, government spokesperson Sasikarn Wattanachan said on December 9.
Bangkok (VNA) - Thailand has recorded a decrease of 20% in low-quality imports, mainly from China, since imposing restrictions on cheap imports that are hurting business in Southeast Asia's second-largest economy, government spokesperson Sasikarn Wattanachan said on December 9.
Cheap goods from China are said to have disrupted production and business activities in Thailand, contributing to a slew of factory closures and job loss.
Responding to calls for action from businesses, since July, the Thai government has tightened regulations and increased inspections of cheap imports, focusing on agricultural, consumer and industrial goods. Thanks to the above-mentioned measures, the value of low-quality goods’ import has decreased sharply, Sasikarn said.
The government also seized 506 million THB (14.97 million USD) worth of imports including counterfeit goods, shirts, shoes and e-cigarettes, according to official data. In addition, Thailand began levying a 7% value-added tax (VAT) in July for goods under 1,500 THB. According to the Finance Ministry, it has so far collected 707 million THB.
✱ Sasikarn also said the government will roll out more measures to support domestic businesses, including requiring foreign online businesses to incorporate in Thailand and register to pay VAT./.
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