Development of Thailand's Agricultural Business and Opportunities for Global Market Competitiveness: Strategies and Approaches for Sustainability

Abstract

          The agricultural business of Thailand plays a crucial role in the country's economy and food security. However, changes in the global market, technology, and trade policies have created both opportunities and challenges for the Thai agricultural sector. This article aims to study the development of Thailand's agricultural business, focusing on analyzing its competitive opportunities in the global market through sustainable approaches and strategies. It employs the conceptual framework of Sustainable Development and the approach of enhancing Competitive Advantage. The analysis covers the following key factors including 1) Government policies and technological support 2) The role of Smart Farming and digital technology 3) The development of organic agriculture and international standards 4) The agricultural supply chain and logistics system 5) Adaptation to free trade and trade barriers

          The study's findings indicate that the development of smart agriculture and the utilization of digital technology significantly enhance production efficiency and reduce costs. Meanwhile, international standards and supportive government policies play a crucial role in creating added value and expanding trade opportunities in the global market. Furthermore, the development of the supply chain and the strengthening of cooperation among the government, private sector, and farmers are essential for boosting the competitiveness of the Thai agricultural sector. This article proposes strategic guidelines for developing the Thai agribusiness to be competitive in the long term, focusing on innovation development, increasing production efficiency, reducing environmental impact, and establishing international cooperation networks. These study results can be used as a policy and strategic guideline for developing Thailand's agriculture to grow sustainably and compete effectively in the global market.