The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB),

Thailand plays a significant role in the Thai economy. It has been continuously regarded as the “engine of growth” to drive the economic growth for many decades. In order to strengthen their roles and activities, both Thai and foreign business communities in Thailand have grouped themselves into various forms, i.e. chambers of commerce, boards, federations, associations, and trade associations. To facilitate the establishment of these various forms of business groupings, the Thai government legislated the Chamber of Commerce Act B.E. 2509 (1964), the Association Act B.E. 2509(1964), and the Federation of Thai Industries Act B.E. 2530 (1987), as the legal framework.
The Board of Trade of Thailand (BOT)
was transformed from “Trade Council” which was registered as an association under the Civil and Commercial Code in 1955. Currently, the BOT is under the Chamber of Commerce Act B.E. 2509 (1964), comprising the Thai Chamber of Commerce, 75 provincial chambers of commerce, 30 foreign chambers of commerce, and 85 trade associations. The main objective is to be the central organization of Thai and foreign merchants in Thailand to promote and organize trading as well as to provide advice and to report facts to the government regarding the economy, trade, industry, transportation, manufacturing, treasury and finance.

The Federation of Thai Industry (FTI)
was founded in 1967 as the Association of Thai Industries, representing industrial communities in Thailand. Since the enactment of the Federation of Thai Industries Act B.E.2530 (1987), the Association of Thai Industries has become the FTI. At present, the FTI comprises 45 industry clubs and 74 provincial chapters throughout Thailand. The main objective is to promote and support the industry sector by focusing on developing and strengthening the Thai industrial sector for the sustainable growth of the country.
The Thai Bankers’ Association (TBA)
was founded in 1958, serving as a forum for Thai commercial banks. The main objectives are to exchange and share experiences and know-how in banking practices through its various clubs, e.g., Payment Club, and to serve as a formal link between the commercial banking sector and the government.

As the apex body of the three core private organizations of the Thai business sector, namely the BOT, the FTI and the TBA, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), equivalent to the chamber of commerce and industry in other countries, was established in 1977 to serve as a central coordinating body in providing recommendations and advice to the Joint Public-Private Sector Consultative Committee (JPPSCC) which is chaired by the Prime Minister, as well as the concerned authorities directly. The JSCCIB has actively participated and made contributions to the JPPSCC in addressing issues and recommendations arising from and/or affecting business practices in all areas, including trade, industry, environment, tourism, finance, banking and others.

The chairmanship of the JSCCIB has alternately rotated among the heads of the BOT, the FTI and the TBA on a four-monthly basis. The office of the JSCCIB was set up and located at the Board of Trade of Thailand building to conduct activities and to serve as a permanent secretariat.

Since its establishment, the JSCCIB has advocated and voiced the collective opinions, recommendations, concerns and aspirations of the private sector to the government in its efforts to promote exports and imports, encourage foreign investment and stimulate economic activity in the country. The JSCCIB has a firm belief that close cooperation between the public and private sectors in the economic development will ultimately enhance the prosperity and economic stability of the country as a whole.
The JSCCIB, representing the Thai private sector, is also actively involved in bilateral, sub-regional, and regional economic integrations and free trade areas arrangements. To achieve this goal, the JSCCIB has appointed its representatives to take part in various activities including APEC Business Advisory Council (ABAC), ASEAN Business Advisory Council (ASEAN-BAC), East Asia Business Council (EABC), Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Business Council, Greater Mekong Sub-region (GMS) Business Council, Malaysia-Indonesia-Thailand Growth Triangle (IMT-GT) Joint Business Council, and so on. This is to provide an opportunity for the Thai private sector to explore business cooperation and express its views and concerns over the development and implementation of relevant bilateral, sub-regional, and regional economic cooperation and integrations.
The JSCCIB has also set up a number of business councils (bilateral and regional) to promote trade, investment and economic cooperation with its counterparts. This working mechanism, as mentioned earlier, would enhance the role of the Thai private sector in economic development at both national and regional levels.

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