Commerce Minister Krirk-krai Jirapaet yesterday said the fund would help farmers and industries that would be affected by the FTAs. 

At the meeting of the National Economic Policy Committee yesterday attended by Deputy Prime Minister and Finance Minister MR Pridiyathorn Devalula, Krirk-krai said the government would consider providing assistance to farmers for a period of three to five years. The assistance will come in the form of financial and technological support.

As for any industries that are unable to compete with export rivals at the end of the assistance programmes, the government will ignore them and focus only on industries with a potential for success.

The government will allocate a budget for other agencies involved such as the Agriculture and Cooperatives Ministry and the Industry Ministry to help farmers and manufacturers prepare themselves before the implementation of the free-trade pact. It will also provide assistance to impacted sectors for three to five years, he said.

The ministry will establish the fund in response to an appeal from the private sector, which has urged the government to assist farmers and industries that will suffer due to the FTAs.

So far, Thailand has already inked FTAs with Australia and New Zealand, along  with China and India for early harvest programmes. The government is also negotiating with major trading partners like the US and countries belonging to the European Free Trade Association and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.

The government also plans to sign a Japan-Thailand Economic Partnership Agreement after a long delay.